Holders Technology PLC
29 November 2002
Holders Technology plc announces that it has reached agreement with Cimatec GmbH
Produkte fur Leiterplatten (Cimatec) to purchase the assets and business of
Cimatec's materials division. Cimatec, which is based near Frankfurt, Germany,
provides materials to the printed circuit board industry in Germany and other
European countries.
Commenting on the agreement, Holders Technology Chief Executive, Rudi Weinreich,
said:
'The acquisition of the Cimatec materials business will strengthen Holders
European coverage to the PCB industry. Cimatec has a strong product range and
excellent production facilities that are highly complementary and an excellent
strategic fit with the existing Holders Technology business.
The PCB industry remains depressed and further consolidation is inevitable. We
are alert for additional opportunities and it remains our intention to
strengthen our links to the Far East'.
Holders has formed a new 100%-owned subsidiary, called HT Cimatec GmbH to
acquire the Cimatec materials division.
The assets to be acquired consist of fixed assets, stock and the outstanding
order book. Total consideration is Euro 1,131,000 (approx £716,000) payable in
cash of which 70% is payable on completion and the remainder after three months.
In the 9 months to 30 September 2002, Cimatec's materials division had sales of
Euro 7.3 million (£4.6 million) from sales of drilling materials, laminate
accessories, copper foils, solder masks and lacquers.
For further information please contact:
Rudi Weinreich, Chief Executive 0208 343 7095
John Wakefield, Rowan Dartington & Co. Limited 0117 933 0020
This information is provided by RNS
The company news service from the London Stock Exchange
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