Boryszew S.A. informs that it got a notification from Maflow Extraordinary Commissioners on the favourable recommendation of the offer placed by Boryszew S.A. to buy:
- organized company Maflow S.p.A, consisting of companies in Ascoli Piceno and Trezzano Sul Naviglio in Italy,
- organized company Man Servizi S.r.l, consisting of companies in Ascoli Piceno and Trezzano Sul Naviglio in Italy,
- 100 % of shares in Maflow Components (Dalian) Co. Ltd. in China,
- 99.9 % of shares in Maflow do Brasil Ltda. in Brazil,
- 100 % of shares in Maflow Kabushiki Kaisha in Japan.
According to the procedure of tender the transaction has to be confirmed by the Minister of Economic Development.
Purchase of the above mentioned companies, referring to current reports nos 36/2010 and 38/2010, is a consecutive step of buying by Boryszew S.A. some of selected companies of Maflow Group.
Maflow Group produces modern and technology advanced air-conditioned, breaks, active suspension and power steering cables. These products has owned a recognition of greatest world’s cars producers, which are clients of Maflow Group.
As far as air-conditioned cables are concerned, which determined the majority of sell (ca 85 %), the share of Maflow Group in 2010 in the European market reached 20%, in the global market – 7%.
Maflow S.p.A. in Trezzano Sul Naviglio in Italy produces air-conditioned and breaks cables.
Man Servizi S.r.l in Italy is focused on services on development of Maflow Group’s products providing implementation of modern technologies and solutions in particular products companies in the whole Maflow Group.
Maflow S.p.A. in Ascoli Piceno in Italy is focused mainly on production of high quality rubber and rubber cables. It plays a key role of supplier of these products to other Maflow Group’s companies.
