The majority takeover of GfO Gesellschaft für Oberflächentechnik mbH propels Nanogate (ISIN DE000A0JKHC9), a leading international nanotechnology enabler, to the top slot in Europe as the leading system provider of high-performance surfaces for industrial applications.
The technology company GfO specialises in technical and optical surface enhancement as well as using an inkjet technology unique worldwide to apply coatings. For the current year GfO is expecting sales of at least EUR 10 million and substantially positive earnings. Nanogate is investing a total of around EUR 1.5 million in the 51 % stake in GfO. Nanogate is increasing its Group sales forecast for 2010 to at least EUR 16 million (previous forecast: at least EUR 13 million) and expects that the acquisition will make a contribution to the operating result early on.
Ralf Zastrau, CEO of Nanogate AG, “With this transaction we are going to achieve a new dimension in sales and earnings, and are adding proprietary coating technology to our materials expertise. GfO will strengthen our position in the attractive market for high-performance surfaces for industrial applications, enabling us to open up this segment even faster. The products from Nanogate and GfO complement each other perfectly, and our clients will benefit from the merger thanks to a completely integrated product range. From the first quarter of 2011 we are anticipating significant additional sales and earnings. We expect to be able to grow at least 10 % faster together and to be able to raise our EBIT margin to at least 15 % in the medium term. In addition to strategic reasons, the deal comes with an attractive financing model that upholds Nanogate’s liquidity. The merger with GfO gives Nanogate a unique competence in functionalising surfaces, with a focus on plastics and metals. We are combining GfO’s excellent process skills with Nanogate’s materials expertise.”
Gerd Leichner, Managing Director of GfO, “We are now using Nanogate’s outstanding materials expertise to reinforce our coating technology, which has been respected for many years. Our customers will benefit from nanotechnology because it will enable us to use new materials in future that are more cost-effective or offer greater performance. We will be able to grow faster with Nanogate and tap new market segments. As a result of the merger we now have the opportunity to position ourselves as a competence centre for high-quality, innovative surfaces. Together, Nanogate and GfO have a strong distribution network and great sales potential with direct access to design and development divisions at companies in a wide variety of sectors. This will enable us to further develop our position as one of the leading providers of surface systems for industrial applications.”
Source: http://www.nanogate.de/