REG - Volex PLC - Receipt of Competition Clearance for Murat Ticaret

VolexAnnouncement

07/08/2023 07:00

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RNS Number : 4283I  Volex PLC  07 August 2023

07 August 2023

 

Volex plc

 

("Volex", or the "Group")

 

Receipt of Competition Clearance for Murat Ticaret

 

Volex plc (AIM: VLX), the specialist integrated manufacturer of critical power
and data transmission products, announces that, following receipt of
competition authority clearances in both Turkey and Macedonia, all conditions
for the acquisition of Murat Ticaret Kablo Sanayi A.Ş. ("Murat Ticaret") have
been satisfied.

 

Completion of the acquisition of Murat Ticaret is now expected to take place
at the end of August.

 

Nat Rothschild, Executive Chairman of Volex, said:

 

"We are pleased to have received the clearances from the Turkish and
Macedonian competition authorities. Murat Ticaret is a transformational
acquisition which further diversifies the Group, providing significant
exposure to a new, global off-highway manufacturing end market, and will
accelerate the progress against our five-year plan.

 

"Since announcing the transaction in June, we have been developing our
integration plans, and working closely with local management to explore how
collaboratively, a combination of these two businesses will benefit our
customers, and generate significant value for our shareholders. We are also
delighted with the positive engagements we have had with Murat Ticaret's major
customers, and excited by the opportunities emerging to grow these
relationships through Volex's global footprint and advanced manufacturing
capabilities."

 

 

For further information please contact:

 Volex plc                             +44 (0)7971 156 431

 Nat Rothschild, Executive Chairman    investor.relations@volex.com (mailto:investor.relations@volex.com)

 Jon Boaden, Chief Financial Officer

 

 Peel Hunt LLP - Nominated Adviser & Joint Broker      +44 (0)20 7418 8900

 Ed Allsopp

 Tom Ballard

 Ben Harrington

 

 HSBC Bank plc - Joint Broker  +44 (0)20 7991 8888

 Simon Alexander

 Joe Weaving

 

 Powerscourt - Media Enquiries  +44 (0)20 7250 1446

 James White

 Nicholas Johnson

About Volex

 

Volex plc (AIM: VLX) is a global leader in integrated manufacturing for
performance-critical applications and a supplier of power products. We serve a
diverse range of markets and customers, with particular expertise in cable
assemblies, higher-level assemblies, data centre power and connectivity,
electric vehicles, and consumer electricals. We are headquartered in the UK
and operate from 19 manufacturing locations with a global workforce of over
8,000 people across 22 countries. Our products are sold through our own
locally based sales teams and through authorised distributor partners to
Original Equipment Manufacturers ('OEMs') and Electronic Manufacturing
Services ('EMS') companies worldwide. All of the products and services that we
offer are integral to the increasingly complex digital world in which we live,
providing power and connectivity from the most common household items to the
most complex medical equipment. For more information, please visit
www.volex.com (http://www.volex.com)

 

-ENDS-

 

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