Brief: Cicor Technologies: Acquires Phoenix Mecano Digital Elektronik GmbH

Cicor Technologies

15/11/2022 06:09

Nov 15 (Reuters) - Cicor Technologies Ltd  CICN.S :
    * ANNOUNCES ACQUISITION OF 100% OF SHARES OF PHOENIX MECANO
DIGITAL ELEKTRONIK GMBH (PMDE) WITH SITES IN THURINGIA (GERMANY)
AND PHOENIX MECANO DIGITAL TUNISIE S.A.R.L. LOCATED IN
BORJ-CEDRIA (TUNISIA)
    * FURTHER EXPANDING ITS ELECTRONIC MANUFACTURING SERVICES
(EMS)
BUSINESS IN EUROPE'S LARGEST MARKET FOR SOPHISTICATED
ELECTRONICS
    * EXPECT REVENUES OF MORE THAN EUR 30 MILLION IN 2022
FINANCIAL
YEAR, EBITDA MARGIN IS EXPECTED TO BE AT A LEVEL COMPARABLE TO
THAT OF CICOR GROUP
    * CLOSING OF TRANSACTION IS EXPECTED TO BE COMPLETED WITHIN
NEXT 2
- 4 MONTHS AND IS SUBJECT TO CUSTOMARY CLOSING CONDITIONS
    * TRANSACTION WILL BE FINANCED BY FUNDS FROM ISSUED
MANDATORY
CONVERTIBLE BOND

Further company coverage:  CICN.S 
 (Reporting by Berlin Newsroom)
 ((berlin.newsroom@thomsonreuters.com;))