Brief: Valmont, Ericsson Report Acquisition Of ConcealFab

Valmont Industries

27/04/2022 14:22

April 27 (Reuters) - Valmont Industries Inc  VMI.N :
    * VALMONT AND ERICSSON ANNOUNCE THE ACQUISITION OF
CONCEALFAB TO
ACCELERATE GROWTH AND INNOVATION IN GLOBAL TELECOM MARKET
    * VALMONT INDUSTRIES INC- VALMONT TO ACQUIRE A MAJORITY
INTEREST;
EXPECTS TRANSACTION TO BE IMMEDIATELY ACCRETIVE
    * VALMONT INDUSTRIES INC- ERICSSON INCREASES ITS OWNERSHIP
IN
CONCEALFAB
    * VALMONT INDUSTRIES -TRANSACTION WILL BE FUNDED WITH CASH
ON
HAND, EXPECTED TO BE IMMEDIATELY ACCRETIVE TO EARNINGS, WITH
YEAR-1 REVENUE OF ABOUT $50 MILLION
    * VALMONT INDUSTRIES - DEAL ESTABLISHES INNOVATIVE 5G
INFRASTRUCTURE BUSINESS IN PARTNERSHIP WITH ERICSSON TO
ACCELERATE TELECOM GROWTH

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