AVX Corporation announces agreement to acquire KUMATEC
AVX Corporation has announced that its subsidiary, AVX Interconnect Europe,a limited liability company under German law, has signed a definitive agreement to acquire KUMATEC Sondermaschinenbau & Kunststoffverarbeitung (‘KUMATEC’), a limited liability company under German law. KUMATEC develops, constructs and manufactures automation equipment and processes plastic components.
Included in the purchase is KUMATEC’s 50% interest in KUMATEC Hydrogen (‘KUMATEC Hydrogen’), a limited liability partnership under German law, which was recently spun out of KUMATEC. The purpose of the partnership is the development, marketing and supply of hydrogen fuel generation and delivery solutions and other related services. After closing, the partnership will be renamed AVX/KUMATEC Hydrogen.
John Sarvis, President and Chief Executive Officer of AVX Corporation, stated: "The acquisition of KUMATEC and our joint venture in the hydrogen business is an exciting opportunity for AVX which will provide us additional manufacturing capabilities and new business opportunities.”
In accordance with the share purchase and transfer agreement, AVX will acquire all of KUMATEC shares for a consideration of €12.5m. The transaction is subject to regulatory approvals and other conditions that are customary for transactions of this type, and is expected to close at the end of April, 2018.
Featured products
MAX17793
Analog Devices Inc.
3V to 80V, 3A, High-Efficiency, Synchronous Step-Down DC-DC Converter
| SKU: | MAX17793 |
|---|---|
| Stock: | 9316 |
| Cost: | $3.64 |
MAX22516
Analog Devices Inc.
IO-Link Data Link Controller with Transceiver and Integrated DC-DC
| SKU: | MAX22516 |
|---|---|
| Stock: | 8000 |
| Cost: | $5.42 |
