Brief: Krones Buys 80.5% Of R+D Custom Automation LLC in US

Krones AG

09/11/2022 06:39

Nov 9 (Reuters) - Krones Ag  KRNG.DE :
    * EXPANDS ITS CAPABILITIES IN GROWING PHARMACEUTICAL MARKET
WITH
ACQUISITION OF US COMPANY R+D CUSTOM AUTOMATION
    * ACQUIRED 80.5% OF R+D CUSTOM AUTOMATION LLC (R+D) WITH
EFFECT
FROM 8 NOVEMBER 2022
    * PURCHASE PRICE FOR STAKE IN R+D IS IN MID DOUBLE-DIGIT
MILLIONS
OF US DOLLARS AND IS MET OUT OF AVAILABLE CASH FUNDS
    * IN 2021 FISCAL YEAR, COMPANY GENERATED REVENUE OF SOME
US$43
MILLION WITH A WORKFORCE OF MORE THAN 60 EMPLOYEES
    * HAS AN OPTION TO BUY REMAINING 19.5% OF SHARES IN R+D,
WHICH
REMAIN WITH CURRENT MANAGEMENT

Source text for Eikon:  ID:nEQ69XmjSa 
Further company coverage:  KRNG.DE 
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