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DELFINGEN finalized the acquisition from Intercable of its shares in their Joint Venture
PRESS RELEASE
Anteuil, December 23rd, 2020
DELFINGEN finalized the acquisition from
Intercable of its shares in their Joint Venture
On September 1st, 2020, DELFINGEN completed the acquisition of certain European/African assets and entities of the Schlemmer Group, including 49% of Schlemmer Italy, 62% of Schlemmer Morocco and 50% of Schlemmer Tunisia, operated in a Joint Venture with Intercable, an Italian family-owned company specialized in the manufacture of connection parts for the automotive industry.
On December 23rd, 2020, DELFINGEN acquired the remaining shares held by Intercable in this Joint Venture. Therefore, DELFINGEN now owns 100% of the former Schlemmer entities in Italy, Morocco and Tunisia, which represent a turnover of about 25 m€ with an Ebitda margin of 20%.
This operation will facilitate the organization and rationalization of the DELFINGEN Group's establishments in the North African region where it is already present with two factories in Morocco and one in Tunisia. This operation will also enable DELFINGEN to reinforce its industrial tool for the production of injected parts for harness protection systems.
This operation is financed by own funds.
Investors are invited to refer to the press release concerning the upward revision of performance expectations for the year 2020 published today.
Advice of the operation:
TaylorWessing Munich - Christian TRAICHEL
Gianni & Origoni - Tomaso CENCI
DELFINGEN, a global leader in protection
and routing solutions for electric and fluid on-board networks
EURONEXT GROWTH Paris - ISIN Code: FR 0000054132 - Mnemonic: ALDEL
Next Press Release: February 5th, 2021 - 2020 4th Quarter Sales
Contact: Mr. Christophe CLERC: +33 (0)3.81.90.73.00 - www.delfingen.com
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