Brief: Core Molding Technologies Acquires Horizon Plastics International

Core Molding Technologies

16/01/2018 21:15

Jan 16 (Reuters) - Core Molding Technologies Inc  CMT.A : 
    * CORE MOLDING TECHNOLOGIES ACQUIRES HORIZON PLASTICS 
INTERNATIONAL INC., EXPANDS ITS CAPABILITIES 
    * CORE MOLDING TECHNOLOGIES INC - TRANSACTION IS AN ALL-CASH 
ACQUISITION FOR APPROXIMATELY $63 MILLION 
    * CORE MOLDING TECHNOLOGIES INC - CORE WILL FINANCE DEAL 
UTILIZING 
EXISTING CASH ON HAND AND A NEW $85 MILLION SENIOR SECURED 
CREDIT FACILITY 
    * CORE MOLDING TECHNOLOGIES INC - COMPANY EXPECTS 
TRANSACTION TO 
BE APPROXIMATELY $0.15 TO $0.20 ACCRETIVE TO EARNINGS PER SHARE 
FOR CALENDAR YEAR 2018 
    * CORE MOLDING TECHNOLOGIES - PLANS TO CONTINUE ALL HPI 
OPERATIONS, DOES NOT EXPECT ANY SIGNIFICANT RESTRUCTURING, 
SHUT-DOWN OR EMPLOYEE SEVERANCE COSTS 
 
Source text for Eikon:  ID:nPn4LkBg7a  
Further company coverage:  CMT.A  
 
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