TOMRA: Expanding our footprint within food sorting by acquiring BEST NV
(Thomson Reuters ONE) -
TOMRA acquires Belgian sorting machine producer BEST Kwadraat NV for EUR 138m
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act).
TOMRA Systems ASA (TOMRA), through its fully owned subsidiary TOMRA Sorting AS,
has on 31.05.2012 signed an agreement with the owners of technology manufacturer
BEST Kwadraat NV (BEST), based in Leuven, Belgium, enabling TOMRA Sorting AS to
acquire 100 per cent of the shares in BEST. Closing of the transaction is
expected to take place in the beginning of July 2012.
Leading provider of food sorting solutions
BEST is a leading provider of advanced optical sorting technology for use in
multiple applications (nuts, vegetables, dried/frozen fruit, fresh cut, tobacco,
seafood, etc.). Using a wide range of self-developed technologies (laser,
camera, fluo, LED, X-Ray, SWIR Laser), the company provides its solutions
through a network of 60+ exclusive sales agents in a broad range of geographic
locations.
"BEST brings to the table both unique, patented technology and leading market
positions in several fast-growing segments of the food sorting industry", says
Stefan Ranstrand, TOMRA's President and CEO. "The proposed acquisition of BEST
will strengthen TOMRA's market presence in the food sorting segment and together
with what we also have in our existing food sorting unit, it will provide an
unrivalled technology base from which to grow our business further."
Established in 1996, BEST today has over 300 people employed across locations in
Leuven, Belgium, Barcelona, Spain, Denver, Colorado/USA, Eindhoven, the
Netherlands, Hangzhou, China, Istanbul, Turkey and Tokyo, Japan. The company
serves several of the world's top 10 food manufacturers. About 3,500 BEST
sorting systems have been sold worldwide. The company generated a 2011 EBITA in
excess of EUR 13m on total revenue of approximately EUR 87.8m.
"BEST and TOMRA Sorting complement each other perfectly in terms of technology
and market coverage. This will benefit our customer and strengthen the combined
organization", says BEST CEO Paul Berghmans.
For more information about BEST, reference is made to the press conference
presentation dated 1(st) of June and the company website
http://www.bestsorting.com/.
Complementation of TOMRA's existing sorting solution offering
TOMRA Sorting Solutions is a global market leader in sensor based sorting
solutions. The technology is applied in the recycling, mining and food
industries under the product names TITECH, CommodasUltrasort and Odenberg
respectively. The proposed acquisition of BEST represents another important step
towards realizing TOMRA's strategy of strengthening its market position and
product offering within sensor based sorting. In addition to representing an
interesting growth case on its own, BEST is a strong strategic fit with TOMRA
Sorting Solutions and complements its existing technology portfolio through the
addition of leading laser sorting technology. As BEST and Odenberg, TOMRA's food
sorting unit, typically sort different products, the material handling knowledge
will also be complimentary.
"By combining leading technologies and service capabilities, our customers will
see products with higher performance and an increased level of service
offerings", comments Rune Marthinussen, Head of TOMRA Sorting Solutions.
Financial details
TOMRA will pay a consideration corresponding to a value of EUR 138m, free of
cash and interest bearing debt. TOMRA will pay the purchase price in cash, and
the transaction will be financed through existing drawing rights in combination
with a new debt facility of ~105 MEUR. Details of the new debt facility will be
communicated separately when signed.
 A press conference elaborating on the acquisition will be held at 08:00 via
webcast.
Webcast link: http://dl.webcast.no/tomra/index.html . Webcast is also available
through on our webpage www.tomra.com
Dial in details: We kindly request participants to dial in 5-10 minutes before
the conference starts
Norway: +47 2103 3441
UK: +44 (0)844 871 9354
Sweden: +46 (0)8Â 566 19Â 426
Denmark: +45 3272 7507
Finland: +358 (0)923 113Â 295
We will open up for Q&A after the presentation, questions can be asked both
through web and per telephone.
For other questions please contact:
CFO/Deputy CEO: Espen Gundersen +47 66 79 92 41 / +47 97 68 73 01
CEO: Stefan Ranstrand +47 66 79 92 00 / +47 97 47 72 70
Investor Relations: Elisabet Sandnes +47 66 79 92 42 / +47 97 55 79 15
Footnote: Required disclosure according to the Norwegian Security Trading Act;
Name of sellers: Paul Berghmans, Eddy De Reys, Marc Ruymen, Bert Van der Auwera,
PENTAHOLD NV and Christiaan Fivez.
Members of the Board of Directors: Technology and Design BVBA, permanently
represented by Paul Berghmans; Edito BVBA, permanently represented by Edwin De
Reys; R.M. Engineering BVBA, permanently represented by Marc Ruymen; Bimex BVBA,
permanently represented by Bert Van der Auwera; Karel Gielen; Asterian NV,
permanently represented by Geert Vanderstappen; Geert Vanderstappen; Ignace
Gheysens, and Verpal NV, permanently represented by Robert Verhoeven.
Press Conference Presentation:
http://hugin.info/162/R/1616566/515619.pdf
Announcement - Acquisition of BEST NV:
http://hugin.info/162/R/1616566/515613.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Tomra Systems ASA via Thomson Reuters ONE
[HUG#1616566]
Unternehmensinformation / Kurzprofil:
Datum: 01.06.2012 - 07:30 Uhr
Sprache: Deutsch
News-ID 152106
Anzahl Zeichen: 6634
contact information:
Town:
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Kategorie:
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