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NanoXplore Inc. Finalizes Acquisition of CEBO Injections SA

Thursday, Dec 07, 2017

NanoXplore Inc., a world leading graphene company, announced today that it has finalized the acquisition of CEBO Injections SA ("CEBO"), a Swiss-based precision injection molding company, from BCR Plastic Group. CEBO's total sales for 2016 were 5.9M Swiss francs ("CHF") (Non-audited, Swiss GAAP). NanoXplore has acquired all the outstanding shares of CEBO for a total of 2.3M CHF, with 1.5M CHF having been paid to BCR Plastic Group, 0.4M CHF to be paid after 12 months, and another 0.4M CHF to be paid after 24 months. Export Development Canada provided debt financing of 1.15M CHF to support this transaction.

Following the transaction, both Mr. Cornelis Smit, CEO and founder of CEBO, and Mr. Thierry Poulleau, Director of Sales of CEBO, continue in their positions. In anticipation of continued strong growth, CEBO has placed an order for two new ARBURG precision injection molding machines.

"It is a pleasure to welcome CEBO to our plastic division and we are very excited that Mr. Smit and Mr. Poulleau are continuing with the company." says Dr. Soroush Nazarpour, President and CEO of NanoXplore.

 

Source: marketwired.com

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