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.
|
