TOCALO Co.,Ltd. signed a letter of intent to acquire an remaining 51% stake in NEIS & TOCALO Co., Ltd. from Neis Company Limited and Neis Co.,Ltd. for THB 80 million.
June 20, 2024
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TOCALO Co.,Ltd. (TSE:3433) signed a letter of intent to acquire an remaining 51% stake in NEIS & TOCALO (Thailand) Co., Ltd. from Neis (Thailand) Company Limited and Neis Co.,Ltd. for THB 80 million on June 21, 2024. A cash consideration of THB 80 million will be paid by TOCALO Co.,Ltd. As part of consideration, THB 80 million is paid towards common equity of NEIS & TOCALO (Thailand) Co., Ltd. Upon completion, TOCALO Co.,Ltd. will own 100% stake in NEIS & TOCALO (Thailand) Co., Ltd.
For the period ending December 31, 2023, NEIS & TOCALO (Thailand) Co., Ltd. reported total revenue of THB 79 million, EBIT of THB 3 million and net income of THB 2 million. As of December 31, 2023, NEIS & TOCALO (Thailand) Co., Ltd. reported total assets of THB 170 million and total common equity of THB 158 million.
The expected agreement date is June 24, 2024, and expected completion of the transaction is June 25, 2024.
TOCALO Co., Ltd. mainly develops and provides thermal decomposition (TD) processing, ZAC coating processing, plasma transferred arc (PTA) processing, physical vapor deposition (PVD) processing business, with a focus on thermal spray coatings. The Company operates in two business segments. The Thermal Spray Coatings segment provides spray processing for semiconductor and parts of flat panel display (FPD) manufacturing equipment, gas turbines for power generation and batteries for electric power storage, various bearings and other parts for industrial machinery, steel rolls and papermaking rolls, as well as chemical plant parts and other equipment parts. The Domestic Subsidiary segment is engaged in PVD processing for cutting tools, blades, automobile molds and others.
TOCALO Co.,Ltd. signed a letter of intent to acquire an remaining 51% stake in NEIS & TOCALO Co., Ltd. from Neis Company Limited and Neis Co.,Ltd. for THB 80 million.
TOCALO CO.,LTD. 
