ALMELO, Netherlands, Jan. 7, 2015 (GLOBE NEWSWIRE) -- Royal Ten Cate (TenCate) has reached an agreement with Platinum Equity, a US-based private equity investor, regarding the sale of TenCate Enbi. The transaction is expected to close in the first half of 2015. The divestment will be valued at an amount close to book value. No further financial detail will be provided.
The sale completes the Fix-It / Exit strategy that has focused the activities of TenCate as a materials technology company on technical textiles.
TenCate Enbi is a supplier of components and materials to leading companies (original equipment manufacturers) primarily in the printer and copier markets. TenCate Enbi has manufacturing facilities in Germany, Hungary, the United States of America and China.
Royal Ten Cate
Almelo, the Netherlands, Wednesday 7 January 2015
For further information:
Gert Steens, manager investor relations
Telephone : +31 (0)546 544 977
Mobile : +31 (0)621 597 411
E-mail : firstname.lastname@example.org
Internet : www.tencate.com
Royal Ten Cate (TenCate) is a multinational company which combines material technology and chemical processes in the development and production of functional materials with distinctive characteristics. TenCate products are sold worldwide.
Systems and materials from TenCate come under four areas of application: safety & protection, space & aerospace; infrastructure and the environment; sport and recreation. TenCate occupies leading positions in protective fabrics, composites for space and aerospace, antiballistics, geosynthetics and synthetic turf. TenCate is listed on the NYSE Euronext (AMX).
Press release as PDF http://hugin.info/130798/R/1884874/666043.pdf
Source:Koninklijke Ten Cate NV