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Spentex completes acquisition of Schoeller Litvinov
27 Jul '07
1 min read
Spentex Industries Ltd has announced that the Company has completed the acquisition of Schoeller Litvinov k.s. (Schoeller) in Czech Republic.
The acquisition of Schoeller was Completed for a consideration of Euro 25 million with net CA of Euro 9 million. The transaction will enhance the topline of the Company by about Euro 55 million and add another Euro 6 million per year in cash flows.
All the revenues including assets and liabilities of the said Schoeller Textile shall be merged with the consolidated financial results of the Company w.e.f. July 01, 2007.
The transaction provides the Company with a strong European presence in the high end yarn segments including special sewing thread yarns, carpet warp yarns and core yarns for weaving mills.
With this acquisition, the Company will gain access to a large customer base in over 30 countries and further add an annual volume of about 19,000 tons.
The acquisition of Schoeller was Completed for a consideration of Euro 25 million with net CA of Euro 9 million. The transaction will enhance the topline of the Company by about Euro 55 million and add another Euro 6 million per year in cash flows.
All the revenues including assets and liabilities of the said Schoeller Textile shall be merged with the consolidated financial results of the Company w.e.f. July 01, 2007.
The transaction provides the Company with a strong European presence in the high end yarn segments including special sewing thread yarns, carpet warp yarns and core yarns for weaving mills.
With this acquisition, the Company will gain access to a large customer base in over 30 countries and further add an annual volume of about 19,000 tons.
Spentex Industries Ltd
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