16 Mar 2010
ERJ staff report (DS)
Stockholm -- Hexpol has agreed with the Vita Group to acquire VTC TPE Group. VTC is a developer and manufacturer of thermoplastic elastomer compounds (TPE Compounding) and has production units in Great Britain and Sweden.
VTC TPE Group should be consolidated from 1 April 2010 and has an estimated annual turnover of approximately Euro 33 million with around 85 employees. The acquired group has an EBITDA margin in line with Hexpol's and is expected to have a positive impact on earnings per share from the start. The acquisition price adjusted for acquired net debt amounts to Euro 35million.
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Press release from Hexpol
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