Brief: Ringmetall To Acquire Hosto Stolz GmbH & Co. KG

Ringmetall SE

17/05/2021 10:33

May 17 (Reuters) - Ringmetall AG  HP3G.DE :
    * DGAP-ADHOC: RINGMETALL PLANS ACQUISITION IN CLAMPING RING
SEGMENT AND SIGNIFICANTLY INCREASES GUIDANCE
    * PURCHASE PRICE WILL BE IN MID SINGLE-DIGIT MILLION EURO
RANGE
AND WILL BE FINANCED FROM BOTH CASH AND FREE CREDIT LINES
    * ACQUISITION OF HOSTO AND THUS FIRST-TIME CONSOLIDATION OF
COMPANY IN GROUP IS PLANNED FOR 31 MAY 2021
    * NOW EXPECTS FY REVENUES OF BETWEEN EUR 135 AND 145 MILLION
(PREVIOUSLY: EUR 115 TO 125 MILLION) AND EBITDA OF BETWEEN EUR
13 AND 15 MILLION (PREVIOUSLY: EUR 11 TO 13 MILLION)
    * FORECAST INCLUDES EFFECTS EXPECTED TO DATE FROM
ACQUISITION OF
HOSTO
    * HAS DECIDED TO ACQUIRE HOSTO STOLZ GMBH & CO. KG ("HOSTO")
    * IT IS PLANNED TO INTEGRATE NEW COMPANY AS AN ADDITIONAL
PRODUCTION SITE MAINLY INTO GROUP SUBSIDIARY BERGER GLOBAL.
    * INDIVIDUAL PRODUCTION AREAS ARE TO BE REALLOCATED BETWEEN
COMPANY LOCATIONS OF RINGMETALL GROUP IN ORDER TO REALIZE
PRODUCTION SYNERGIES AND OPTIMIZE PRODUCTION PROCESSES AND
CAPACITY UTILIZATION

Source text for Eikon:  ID:nEQ5fxQcra 
Further company coverage:  HP3G.DE 

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