Ventec International Group Co.,Ltd. completed the acquisition of certain printed circuit board assets from Holders Technology plc.
September 29, 2021
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Ventec International Group Co.,Ltd. (TWSE:6672) entered into an asset purchase agreement to acquire certain printed circuit board assets from Holders Technology plc (AIM:HDT) for £1.6 million on August 24, 2021. Consideration for the transaction will be paid in cash. Under the terms of the asset purchase agreement, approximately 90% of the consideration will be paid at completion, and approximately 10% will be paid by 31 October 2021 or shortly thereafter. The assets include inventory of a range of consumable products, as well as associated machinery used in the fabrication process of these materials which are supplied to the European PCB industry. It is anticipated that associated PCB staff in Germany will also transfer to Ventec on completion of the transaction. The transferred assets contributed revenues of £4.6 million for the year ended November 30, 2020. Subject to certain conditions, completion of the disposal is expected to take place on 30 September 2021. The disposal proceeds will be used to invest in these activities and for general working capital purposes. Matthew Johnson and Caroline Rowe of SP Angel Corporate Finance LLP acted as nominated advisors to Holders Technology plc.
Ventec International Group Co.,Ltd. (TWSE:6672) completed the acquisition of certain printed circuit board assets from Holders Technology plc (AIM:HDT) on September 30, 2021.
Ventec International Group Co Ltd is a company mainly engaged in the research and development, production and sales of copper foil substrates, aluminum substrates and special material substrates. The Company's main products include copper foil substrates for double-sided printed circuit boards, inner copper foil substrates and adhesive sheets for multi-layer printed circuit boards, and aluminum substrates. The products are mainly suitable for mobile phones, communications, automotive electronics and other fields. The Company mainly conducts business in the Asian, European and American markets.