UK's HeiQ buys U.S. firm for $2.5 mln, shares fall
02/12/2022 13:56
** Shares of materials and textile technology company HeiQ
Plc HEIQ.L down as much as 3.6 at 71.3p
** Buys land and property of Chem-Tex Laboratories Inc in
North Carolina for $2.5 mln urn:newsml:reuters.com:*:nTUC3MSRQV
** Deal for $550,000 in cash and $1.95 mln in shares - HeiQ
** "This Acquisition is expected to improve HeiQ's operating
margin in 2023 and beyond and will also enable HeiQ to focus its
future manufacturing investments in the USA" - statement
** Including session losses, stock down ~22% YTD
(Reporting by Amna Karimi in Bengaluru)
((Amna.Karimi@thomsonreuters.com; +91 8083261226;))