Volex PLC Receipt of Competition Clearance for Murat Ticaret (4283I)
07 Agosto 2023 - 1:00AM
UK Regulatory
TIDMVLX
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. . ("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
Jon Boaden, Chief Financial Officer
Peel Hunt LLP - Nominated Adviser & Joint
Broker
Ed Allsopp
Tom Ballard
Ben Harrington +44 (0)20 7418 8900
HSBC Bank plc - Joint Broker
Simon Alexander
Joe Weaving +44 (0)20 7991 8888
Powerscourt - Media Enquiries
James White
Nicholas Johnson +44 (0)20 7250 1446
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
-ENDS-
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END
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