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JULY 2006

 

TOMRA acquires CommoDaS GmbH

Tomra Systems ASA (TOMRA), through its fully owned subsidiary TiTech Visionsort (TiTech), has entered into an agreement to acquire 100 percent of the shares in CommoDaS GmbH (CommoDaS).

Headquartered in Wedel in Germany, CommoDaS is a provider of advanced recognition and sorting technology for high-value material fractions such as metals, plastics, glass, minerals and gems.

CommoDaS has several partners and distributors spanning most European countries, the United States, Japan and South Africa.

The acquisition of CommoDaS furthers TOMRA’s strategy and ambition of becoming a leading global provider of advanced solutions that enable recovery and recycling of used materials.

By acquiring CommoDaS, TOMRA expands and complements its portfolio of industrial processing technology. CommoDaS brings to the table patented technology and leading market positions in several fast-growing segments of the recycling equipment industry.

CommoDaS will be operated in close coordination with TiTech. While TiTech is a leader in optical recognition and sorting of used household packaging, CommoDaS is a leading provider of advanced technology for recognition and sorting of metals, plastics, glass, minerals and gems. CommoDaS’ solutions are based on a variety of different technologies such as X-ray, color line-scan cameras and metal sensors. Together, TiTech and CommoDaS will have a strong market position in most relevant segments of the recycling equipment industry.

The purchase price of the transaction is approximately $16 million US (including $1.6 million US in net debt). A conditional payment is triggered if the EBIT margin in CommoDaS exceeds 15% in 2007. Closing of the transaction is scheduled for the end of June 2006. TOMRA will finance the purchase price through cash reserves.


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