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Schaltbau Holding AG plans investment in Albatros S.L. and takeover of ALTE Transportation S.L.
Concurrently, Schaltbau is also in advanced negotiations for the acquisition of the subsidiary company, ALTE Transportation S.L. ("ALTE"), Barcelona, Spain, which specialises in toilet and air conditioning systems. ALTE, which is the world's market leader for complete toilet systems, expects to generate sales of approximately € 20 million in 2013 with its workforce of some 110 employees. Including liabilities assumed, the purchase price is in the low double-digit million range.
The two acquisitions are currently still subject to conditions, such as the conclusion of a legally binding contract, approval by the relevant bodies and committees as well as a further restructuring contribution from the creditors of the two entities concerned. Due to integration and other expenses, the transactions are not expected to have any material impact on the group earnings of Schaltbau Holding AG in 2014.
These acquisitions will enable the Schaltbau Group to expand its product range and to strengthen its presence both in the Spanish market and in North and South America.
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