Talvivaara has signed an agreement on the acquisition of energy saving technology
(Thomson Reuters ONE) -
Stock Exchange Release
Talvivaara Mining Company Plc
4 October 2016
Talvivaara has signed an agreement on the acquisition of energy saving
technology
Talvivaara Mining Company Plc ("Company" or "Talvivaara") announces that it has
today signed an agreement on the acquisition of technology that aims to enhance
the energy efficiency of the basic industry. The object of sale consists of the
rights to the control system on which the technology is based and the existing
test use equipment utilizing the technology. The assets will be acquired by a
wholly-owned subsidiary of the Company set up for this purpose.
The purchase price of the technology is five percent of the EBIT generated by
the technology in the future. However, the Company has the right to terminate
the EBIT based earn-out arrangement by paying a lump sum of EUR 2 million to the
seller of the technology. In addition, the Company pays a compensation for the
equipment reflecting their reasonable development and manufacturing costs, EUR
160,000. The closing of the agreement remains conditional, among others, on the
approval of the Company's Board of Directors.
Even though the Company considers that the business based on the energy saving
technology is potentially viable, the commercialization of the technology will
require further development of the underlying business model and the control
system. As part of the arrangement published today, the Company has agreed to
recruit one of the original developers of the technology, in addition to which
the Company is preparing to strengthen its organization with several other
experts needed for the development of the technology and thereto related
business.
In addition to the transaction published today, the Company continues to
investigate and develop its other selected projects. At this point it is too
early for the Company to take a view on the likelihood of any of these projects
to be successfully realized.
Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Pekka Erkinheimo, Deputy CEO
Talvivaara signs agreement on acquisition of energy saving technology:
http://hugin.info/136227/R/2046491/764801.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Talvivaaran Kaivososakeyhtiö Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 04.10.2016 - 09:13 Uhr
Sprache: Deutsch
News-ID 498558
Anzahl Zeichen: 3044
contact information:
Town:
Espoo
Kategorie:
Business News
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"Talvivaara has signed an agreement on the acquisition of energy saving technology"
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Talvivaaran Kaivososakeyhtiö Oyj (Nachricht senden)
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