Volex Group PLC
3 April 2000
VOLEX GROUP p.l.c.
Volex Acquires outstanding 40% of its subsidiary in Brazil
Volex Group p.l.c., the world's leading independent producer
of electrical power cords and electronic interconnect cable
assemblies, announces that on 31st March 2000 it acquired
the outstanding 40% of its subsidiary in Brazil, Volex do
Brasil Ltda, for total consideration of Reais 21.9M (£7.9M),
60% of which has been paid in cash with the balance to be
paid in 2 instalments on 31 March and 30 November 2001.
This purchase relates to the option the Company negotiated
when purchasing the initial 60% acquisition in December
1998.
Volex's operations in Brazil are of great strategic
importance to the Group's global strategy in the
data/telecommunications markets. The Group plans to
significantly increase manufacturing capabilities and
capacities in order to meet future requirements in the
expanding communications markets throughout Brazil.
For further information, please contact:
Volex Group p.l.c
Dom Molloy, Group Chief Executive 01925 830101
Ken Hooper, Group Finance Director
Ludgate Communications Ltd
Chris Lynch/Graham Herring 0171 253 2252
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.