Nanogate SE Increases Shares in Subsidiaries, Drives Forward Future-oriented NXI Program21.05.19
- Nanogate Goletz Systems to be purchased in full
- Nanogate North America share increases to 90 percent
Göttelborn, Germany, May 21, 2019. Nanogate SE, a leading global technology company for design-oriented, multifunctional components and surfaces, is increasing its stake in two subsidiaries.
Nanogate will acquire the remaining shares in Nanogate Goletz Systems GmbH earlier than originally planned. In doing this, the Group wants to speed up implementation of its future-oriented NXI program. The goal is to operate the company and its sister companies Nanogate PD Systems GmbH and Nanogate Vogler Systems GmbH as a compound location at first, and to merge them into one company at a later stage.
Nanogate has also decided to increase its share in Nanogate North America LLC (formerly Nanogate Jay Systems LLC) to 90 percent. At the time the acquisition was announced in December 2016, the company already disclosed that it could acquire the remaining shares based on a graduated model.
The purchase price of the shares to be acquired in the two transactions, which will be completed in the second and third quarters of 2019, consists of a cash and a share component, respectively. As a result, the share capital will increase by around 1.5 percent in total. Both companies have already been fully consolidated. It has been agreed that details will not be disclosed.
Ralf Zastrau, CEO of Nanogate SE: “With a view to the announced acquisition of the ERBIWA Group, we would like to consolidate our existing engineering expertise and continue to focus our sites on component manufacturing and surface enhancement. In order to speed up this transformation process, we have now purchased the remaining shares of Nanogate Goletz Systems a year earlier than planned. Despite the associated short-term burden, the measure will contribute to the more rapid reorganization of Nanogate through the NXI program and will increase efficiency in the medium term.”