Roblon completes acquisition of company
03 Enero 2022 - 8:05AM
Roblon completes acquisition of company
3 January 2022
As announced in company announcement no. 7/2021
Roblon has signed an agreement to acquire Vamafil spol. s.r.o. 9
December 2021 with acquisition date 3 January 2022.
Completion of the transaction was subject to confirmatory due
diligence on a couple of matters, retention of management and other
customary closing conditions. This has been done with satisfactory
results and the parties have agreed to carry out the transaction as
agreed.
The agreed acquisition price for the shares is EURm 8, and
preliminary adjustments made for net debt and normalization of
working capital have been calculated at 0.7 mEUR. A total of 8.7
mEUR has been paid today, of which 1.5 mEUR is withheld via Escrow
agreement as security for the seller’s warranty obligations for 18
months from today’s date.
As previously announced Roblon intends to continue the
development of Vamafil’s existing business area. In addition, the
acquisition of Vamafil will facilitate Roblon’s growth in its core
business within the fibre optic cable industry and strengthen
competitiveness and profitability by relocating selected parts of
its production facilities from Denmark to the Czech Republic.
With the relocation, Roblon will moreover move geographically
closer to the majority of the manufacturers in the European fibre
optic cable industry. This means that Roblon’s position will be
comparable to that achieved in the USA with the Company’s location
in North Carolina. In view of the current COVID-19 resurgence, the
planned relocation will be initiated once the spread of the virus
has stabilised and the risk of travel restrictions in the Czech
Republic and Denmark has been reduced. The relocation is expected
to proceed in mid-spring 2022 and be completed by the end of
2022.
Frederikshavn, 3 January 2022Roblon A/S
Jørgen Kjær Jacobsen
Lars
Østergaard Chairman of the Board
Managing
Director and CEO
Enquiries regarding this announcement
should be addressed to:Managing Director and CEO Lars
Østergaard, tel. +45 9620 3300
- Company Announcement no 1 - 2022
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