ots Ad hoc-Service: TePla AG <DE0007461006> Agreement signed with MetroLine
Muenchen (ots Ad hoc-Service) -
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TePla AG, Kirchheim near Munich agreed to the one-hundred-percent acquisition of MetroLine Industries Inc. of Corona, California. TePla AG, listed on the Neuer Markt, will gain access to the American market and significantly enhance its market position as a worldwide operating plasma system producer. Whereas TePla AG achieved approx. 56% or DM 10.4 million of its sales in Europe and another 39% or DM 7.1 million in Asia, MetroLine posted approx. 88% of its sales in the US market alone. It was particularly in the field of surface technology (DM 13.0 million in 1999) that MetroLine demonstrated its powerful position within its domestic market. The merger of these two companies will enable them to nearly double its revenues. Robert J. Dykhouse, who as owner of MetroLine, will from now on assume a seat on the executive board of TePla and so the market's call to expand the executive board has been answered. According to TePla, settlement of the DM 20 million purchase price will be made through a stock trade and in cash.
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