DGAP-Adhoc: Nanogate Acquires Jay Plastics, Its First US Subsidiary, Expects Growth Leap and Establishes Itself as a Global Provider
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DGAP-Ad-hoc: NANOGATE AG / Key word(s): Investment Göttelborn, Germany, December 5, 2016. Nanogate AG, a leading international systems provider for high-tech surfaces and components, is acquiring a company in the US for the first time, thereby becoming an outstanding global provider. The Group has today agreed to acquire Jay Industries' plastics division, Jay Plastics, which is one of the leading US providers in this segment with a reputation for high-end components and performance surfaces. Nanogate expects to strengthen its earnings power by 2017 already, based on the two companies' planned synergies and possible new product projects. Once the transaction has been completed, the Nanogate Group expects an immediate jump in sales to more than EUR 150 million as well as direct access to an international market worth billions. Nanogate is acquiring a majority stake of around 80 % in Jay Plastics, the plastics division of Jay Industries, Inc., Mansfield, Ohio, USA. The share purchase agreement has been signed today. The purchase price is in the mid double-digit million range. Nanogate is expected to pay around 25 % of the purchase price in shares. The agreement includes performance-based components as part of a graduated pricing model for acquiring the outstanding shares. The successful conclusion of the transaction still requires certain preparatory steps to be taken, such as spinning off the Jay Plastics division from the former parent company, Jay Industries. The transaction should be completed at the beginning of 2017. With the new equity holding, Nanogate is establishing itself as a leading global specialist for design-oriented high-tech surfaces and components of very high optical quality. Together with Jay Plastics, the Group can globally service European and American companies, while at the same time achieving significant synergies in development, sales and production. The planned transfer of technology further boosts Nanogate's sales potential in the US, especially in the area of design surfaces. The transaction also improves Nanogate's market access to Asian manufacturers. Nanogate addresses a market with an accessible volume in billions. Jay Plastics expects to achieve sales for 2016 in the mid double-digit million range as well as a valuable EBITDA. The Group already expects to see an increase in sales to more than EUR 150 million in 2017 as well as significant further growth in the medium term. The Nanogate Group's EBITDA should increase significantly once the acquisition has been completed and improve by as early as 2017 despite transaction and integration costs. Consolidation into the Group financial statements is expected in the first quarter of 2017. Nanogate will publish a detailed annual forecast for 2017 as well as an updated medium-term plan upon completion of the transaction. Information and Explanation of the Issuer to this News: Further information can be found in the press release also published today. Nanogate on Twitter: http://twitter.com/nanogate_ag If you have any queries, please contact:
Nanogate AG: The Group has first-class references (e.g. Airbus, Audi, August Brötje, BMW, BSH Hausgeräte, Daimler, FILA, Fresenius, Jaguar, Junghans, Porsche, Volkswagen). Several hundred mass production projects for customers have already been implemented successfully. The Nanogate Group comprises Nanogate Eurogard Systems B.V., Nanogate GfO Systems AG, Nanogate Industrial Systems GmbH, Nanogate Textile & Care Systems GmbH, Nanogate Glazing Systems B.V. and Nanogate Vogler Systems GmbH, as well as majority stakes in Nanogate PD Systems GmbH and Nanogate Goletz Systems GmbH. It also has subsidiaries in the US and Turkey. True to its slogan 'A world of new surfaces', Nanogate is a long-standing innovation partner who opens up the diverse possibilities offered by new materials to companies in a wide range of industries. It aims to improve customers' products and processes and to provide environmental benefits by using multifunctional surfaces, such as those made of plastic or metal, and innovative plastic components. The Group concentrates on attractive sectors such as automotive/transport, mechanical/plant engineering, buildings/ interiors and sport/leisure. As a systems provider, Nanogate offers the entire value chain: materials development for surface systems, series coating of various different substrates as well as the production and enhancement of complete plastic components. The main value drivers are the opening up of international markets, the development of new applications for the strategic growth areas Advanced Polymers (innovative plastics) and Advanced Metals (innovative metal enhancements) as well as external growth. Disclaimer:
05-Dec-2016 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | NANOGATE AG |
| Zum Schacht 3 | |
| 66287 Göttelborn | |
| Germany | |
| Phone: | +49 (0)6825/95 91 0 |
| Fax: | +49 (0)6825/95 91 852 |
| E-mail: | [email protected] |
| Internet: | www.nanogate.de |
| ISIN: | DE000A0JKHC9, DE000A2DAPR0 |
| WKN: | A0JKHC, A2DAPR |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt |
| End of Announcement | DGAP News Service |
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526809 05-Dec-2016 CET/CEST
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