Koelner To Finalize Srubex Buy in Late 2007
Koelner To Finalize Srubex Buy in Late 2007
Jason Sandefur
Polish fastener manufacturer Koelner plans to invest more than PLN 130 million (US$44 million) in 2007 to finalize its acquisition of Srubex, purchase an unnamed German technological company for about $6.6 million, and fund R&D, according to the Polish News Digest.
Koelner reportedly plans to buy the remaining shares of Srubex through a share swap in the fourth quarter of 2007. Currently Koelner owns about 30% of Srubex.
Koelner intends to finance part of its 2007 investments by issuing 1.5 million new D-series shares on March 9, Polish News Digest reported.
In 2006 Koelner reported net profit rose 49% to PLN 41.8 million (US$10.7m) on a 77% jump in revenue to PLN 428.4 million (US$144.9m). The company employed about 1,000 in 2006. �2007 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment