The Management Board of Boryszew S.A. informs, in connection with the current report no 56/2011 of June 29th, 2011that the company Boryszew Kunstofftechnik Deutschland GmbH – 100 % subsidiary of Boryszew S.A. (through Centermedia Sp. z o.o.) has signed today the purchase agreement, as follows:- assets of Altmärker Kunststoff-Technik GmbH in Gardenlegen / Germany,
- shares in AKT Plastikarska Technologie Cechy spol. s.r.o. with the seat in Jablonec over Nisou in Czech Republic
for the amount of EUR 6.7 million.
The purchased assets of Altmärker Kunststoff-Technik GmbH consist, among other:
- fixed assets,
- intangible assets (including intellectual property),
- selected activity agreements binding on the day of signing the agreement,
- employees agreements,
- contracts.
The essential is to get an agreement of the proper German anti-trust office and release the Czech company from guarantee of financial liabilities of AKT in Germany.
AKT is a supplier of plastic elements to cars (inner and outer engine elements) among other to Volkswagen, General Motors/Oper and BMW with 2010 turnovers exceeding EUR 140 million. AKT employs about 900 employers in Germany and about 200 employers in Czech Republic.
AKT works will be complementary production assets for simultaneously purchased Theysohn works. It is possible to achieve additional synergy as far as the low distance is concern.
After acquisition of Maflow Group in 2010 (car industry cables), purchase of AKT Group and Theysohn Group (plastic elements) is a further step in the way to built a large international group in the automotive branch.
