The acquisition is fully in line with
"The acquisition of McCann is fully in line with our growth strategy with acquisitions within polymer compounds and strengthens our market position in the US. We welcome all employees of McCann to the
Georg Brunstam, CEO
"I am convinced that McCann Plastics with
During the last few years, McCann has invested substantially in capacity and technology to enable the company's further growth and to meet the increased demand of its products.
"McCann has a strong position within its market niche that complements and widens our customer offer. The company is well invested with high competence in specialized thermoplastic compounds. We are looking forward to continued growth with McCann being part of
Jan Wikström, President HEXPOL Thermoplastic Compounding
McCann has during the last 12 months delivered sales of some 72 MUSD with a profitability level just below that of the
The acquisition price amounts to 120 MUSD on a cash and debt free basis and is funded by a combination of cash and existing bank facilities. All regulatory approvals and contractual terms for the transaction have been met and the acquisition has been completed. The business will be consolidated from 1 December.
For more information, please contact:
Peter Rosén, Deputy CEO and CFO
+46 (0)40 25 46 60
This report has been prepared both in Swedish and English. In case of any divergence in the content of the two versions, the Swedish version shall have precedence.
https://news.cision.com/hexpol/r/hexpol-s-acquisition-of-the-shares-in-mccann-plastics--an-american-specialist-in-thermoplastic-compo,c3677740
https://mb.cision.com/Main/1100/3677740/1716597.pdf
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