Nanogate - Acquisition of HTI's plastics division
Nanogate has announced that it is to acquire the plastics division of Austrian company HTI High Tech industries (HTI) for 275,000 new shares, (c €13m at today’s price). The transaction broadens the portfolio of services offered to customers, expands the customer base, reduces exposure to the automotive sector, and extends the international footprint. Depending on the timing of completion (in Q118), management expects the acquisition to raise group FY18 revenues by around 16% to above €220m and to enhance EBITDA, though it will be earnings dilutive short term.Nanogate is an international integrated systems provider for high-performance surfaces. Co. gives materials and surfaces new properties and improves its customers' competitiveness. Co. provides its customers with technologically and visually high-quality systems, equipping plastic, metal and other surfaces with new functions and properties (for example, making them non-stick, antibacterial, anti-corrosive, scratchproof, chemically stable or protected from exposure to the elements). To do so, Co. uses its knowledge of nanomaterials, nanosurfaces and nanostructures, as well as the mass production of enhanced multifunctional surfaces for two and three-dimensional components.
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