Polymer group Nolato buys US medtech firm for 2 bln SEK
06/08/2020 06:43
STOCKHOLM, Aug 6 (Reuters) - Swedish polymer product and
component maker Nolato NOLAb.ST said on Thursday it had agreed
to buy U.S. medical technology company GW Plastics.
"The acquisition price, including contingent consideration,
is estimated to be approximately SEK 2 billion ($231.17
million), around SEK 1.8 billion of which is to be paid upon
transfer of ownership," it said in a statement.
Nolato, which makes products in polymer materials such as
plastic and silicone for sectors ranging from medical
technology, telecom, automotive and white goods to gardening and
hygiene products, said the deal marginally boost 2020 earnings.
It expects to finalise the acquisition, which is funded by
cash and new credit agreements, in September.
($1 = 8.6475 Swedish crowns)
($1 = 8.6516 Swedish crowns)
(Reporting by Anna Ringstrom)
((anna.ringstrom@thomsonreuters.com; +46 8 502 423 74; Reuters
Messaging: anna.ringstrom.thomsonreuters.com@reuters.net))