Ringmetall Aktiengesellschaft / Key word(s): Takeover
Ringmetall acquires innovative clamping ring supplier Latza
- Expected revenue contribution of EUR 4 to 5 m annually, EBITDA margin at Group level
- Access to innovative spring clamping ring technology
- Expansion of production capacities in the area of tinplate
Munich, 31 July 2017 - Ringmetall AG (ISIN: DE0006001902), an internationally leading specialist in the packaging industry, today agreed with the previous owner to acquire 100 percent of the shares in Latza GmbH based in Attendorn, Germany. The company will be integrated into the Industrial Packaging division of Ringmetall Group. The first-time consolidation will take place as of 1 August 2017.
In the course of the acquisition, Ringmetall acquires the entire production plant, including real estate property with production areas of around 3,000 square meters and all production machines. The workforce of currently 45 employees is also taken over completely. The expected annual revenues of Latza GmbH amount to EUR 4 to 5 million. The EBITDA margin is at a comparable level to the Ringmetall Group.
Latza has a high-quality product portfolio consisting of clamping rings of different dimensions, material widths and surface coatings including the corresponding sealing plugs. Much of the products are designed for the special requirements of tinplate. The company expects additional synergies from the takeover from an innovative, newly developed spring clamping ring technology, which will also be offered throughout the Group.
The parties concerned have agreed to remain silence about the purchase price. The purchase price, however, reflects the customary conservative approach of Ringmetall Group during acquisitions. The transaction is largely financed by liquidity as well as available credit lines.
Information and Explanation of the Issuer to this News:
About Ringmetall Group
Ringmetall is an internationally leading specialist in the packaging industry. The Industrial Packaging business segment offers highly secure gasket and locking systems for the chemical, the petrochemical and the pharmaceutical industry as well as the food industry. The Industrial Handling business segment develops application-optimized vehicle accessory parts for the handling and transport of packaging units. Besides its headquarters in Munich, Ringmetall has worldwide production and sales subsidiaries in Germany, Great Britain, Spain, Italy, Turkey, the Netherlands, as well as in China and the USA. On a global scale, Ringmetall generates revenues of more than EUR 90 million per year.
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