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ots Ad hoc-Service: technotrans AG
technotrans takes over US competitor
The sender is solely responsible for the contents of this announcement. ----------------------------------------------------- Sassenberg (ots Ad hoc-Service) - Now also the world market leader in the field of spray dampening systems / New planning figures for the annual general meeting technotrans AG, the leading system provider for entire systems in the field of production of print media and optical storage media, takes over the American corporation Ryco Graphic Manufacturing, Inc. in Chicago with effect from 5th April 2000. In the last business year, Ryco generated a turnover of about 15 million US$ with its 60 employees. As a worldwide leading manufacturer of spray dampening systems and silicone applicators, Ryco completes the technotrans product range in an absolutely ideal way. Following the introduction of a company- owned spray dampening system development in 1998 under the name of "microspray", technotrans is now gaining the absolute leadership on the world market in this field of technology, too, only one year after the product presentation. "Our main customers, the printing press manufacturers, are increasingly relying on system providers acting on a global scale. The take-over of Ryco helps us to extend this position." Heinz Harling, chairman of technotrans AG, explains. Following the merger, he expects also considerable synergistic effects due to the market position of Ryco and the technological competence of technotrans. technotrans is going to relocate the headquarters of the American subsidiary technotrans america inc., founded in 1995, from Atlanta to Chicago. "The new production site in America leads to considerable competitive advantages for technotrans on this important market" says Mr. Harling. Ryco has an excellent access on the US market which represents about 28 per cent of the world market while technotrans with a turnover proportion of 4 per cent on this market still has a considerable potential to be opened up. Outside the USA, however, technotrans is much better positioned than Ryco. On the occasion of the annual general meeting on 5th May 2000, the management board is going to present the revised planning figures for the running business year. "We have analysed Ryco's business plan for the year 2000. The company is highly profitable and we are sure that in spite of the financing and the write-down of goodwill the effect on the operating result in the consolidated financial statement will be positive", explains Hilmar Welpelo, financial director. Especially in view of the situation in America the purchase price reflects an extremely moderate valuation. Payment is partly made in the form of technotrans shares originating from the authorised capital. These 60,000 shares are subject to a commitment period of several months for the seller. Corporate Communications Thessa Möller Phone +49 2583 301-887 e-mail email@example.com End ----------------------------------------------------- Internet: http://recherche.newsaktuell.de Original-Content von: technotrans AG, übermittelt durch news aktuell