DELFINGEN finalized the acquisition from Intercable of its shares in their Joint Venture
24 December 2020 - 3:45AM
DELFINGEN finalized the acquisition from Intercable of its shares
in their Joint Venture
PRESS RELEASEAnteuil, December 23rd, 2020
DELFINGEN finalized the acquisition
from Intercable of its shares in their Joint
Venture
On September 1st, 2020, DELFINGEN completed the
acquisition of certain European/African assets and entities of the
Schlemmer Group, including 49% of Schlemmer Italy, 62% of Schlemmer
Morocco and 50% of Schlemmer Tunisia, operated in a Joint Venture
with Intercable, an Italian family-owned company specialized in the
manufacture of connection parts for the automotive industry.
On December 23rd, 2020, DELFINGEN acquired the
remaining shares held by Intercable in this Joint Venture.
Therefore, DELFINGEN now owns 100% of the former Schlemmer entities
in Italy, Morocco and Tunisia, which represent a turnover of about
25 m€ with an Ebitda margin of 20%.
This operation will facilitate the organization
and rationalization of the DELFINGEN Group's establishments in the
North African region where it is already present with two factories
in Morocco and one in Tunisia. This operation will also enable
DELFINGEN to reinforce its industrial tool for the production of
injected parts for harness protection systems.
This operation is financed by own
funds.
Investors are invited to refer to the press
release concerning the upward revision of performance expectations
for the year 2020 published today.
Advice of the operation:
TaylorWessing Munich - Christian TRAICHELGianni
& Origoni - Tomaso CENCI
DELFINGEN, a global leader in protectionand
routing solutions for electric and fluid on-board networks
EURONEXT GROWTH Paris - ISIN Code: FR 0000054132
- Mnemonic: ALDEL
Next Press Release: February 5th, 2021 - 2020 4th
Quarter Sales
Contact: Mr. Christophe CLERC: +33
(0)3.81.90.73.00 - www.delfingen.com
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