EANS-Adhoc: Balda AG
Balda extends its presence in the USA through acquisition
of HK Plastics Engineering, Inc.
29.12.2012 – 09:42
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Mergers - Acquisitions - Takeovers/Company Information 29.12.2012 Bad Oeynhausen, December 29, 2012 - Balda, a producer of high-quality plastic products for the medical and electronics industries, has agreed the purchase of 100 percent of the shares of HK Plastics Engineering, Inc., Oceanside, California, effective as of December 31, 2012. Through this acquisition, the group extends its presence in the strategically-important US market and particularly strengthens the medical segment. The purchase price amounts to a higher single-digit range (EUR million). It will fully be financed with the existing liquidity of the Balda Group. The sellers are the families of the founders. HK Plastics Engineering, Inc. is a full-service supplier of injection-molded plastics and the associated molds. The company, which was founded in 1974, operates a production facility at its headquarters in Oceanside and employs around 80 people. HK Plastics Engineering, Inc. expects revenues of around USD 15 million (approx. EUR 11.5 million) and positive operating earnings (EBITDA) for calendar year 2012. More than 80 percent of its revenues come from medical customers, especially in the area of medical diagnostics. Further inquiry note: Frank Elsner Frank Elsner Kommunikation für Unternehmen GmbH Tel.: +49 - 54 04 - 91 92 0 Fax: +49 - 54 04 - 91 92 29 Mail:{office@elsner-kommunikation.de}[HYPERLINK: mailto:office@elsner-kommunikation.de] end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Balda AG Bergkirchener Str. 228 D-32549 Bad Oeynhausen phone: +49 (0) 5734 9 22-0 FAX: +49 (0) 5734 922-2747 mail: info@balda.de WWW: http://www.balda.de sector: Semiconductors & active components ISIN: DE0005215107 indexes: CDAX, Prime All Share stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English