Plc Uutechnic Group Oyj: Finalization for selling majority of Japrotek Oy Ab’s shares is postponed, financial negotiations will continue
PLC UUTECHNIC GROUP OYJ STOCK EXCHANGE RELEASE June 29, 2018 at 17:00
Plc Uutechnic Group Oyj: Finalization for selling majority of Japrotek Oy Ab’s shares is postponed, financial negotiations will continue
Plc Uutechnic Group Oyj announced on July 4, 2018 of the arrangement where it will sell 81 % of Japrotek Oy Ab’s shares to the company’s management. The implementation of the transaction was conditional on the final decisions of the financiers and the finalization of the required financial arrangements. On our announcement on July 4, 2018, it was estimated that the financing decisions will be made by the end of June 2018.
Unlike previously announced, financing arrangements have not led to acceptable result with all parties. However, the negotiations continue. Target is to complete financial negotiations by the end of September 2018.
With the management of Japrotek Oy Ab, it has been agreed to extend the implementation deadlines during the financial negotiations. The terms of the arrangement between the parties remain unchanged.
In Uusikaupunki June 29, 2018
PLC UUTECHNIC GROUP OYJ
Board of Directors
Further information:
Jouko Peräaho, CEO Plc Uutechnic Group Oyj, +358 500 740 808
www.uutechnicgroup.fi
Uutechnic Group is focused on improving the competitiveness of its customers by providing them advanced equipment technology and unique service concept worldwide. The product range includes agitators, different types of pressure vessels, process- and storage tanks, reactors and heat exchangers. Additionally, different types of long welded and machined axially symmetrical parts as rolls, cylinders, tubes and cones.
The main industries are hydrometallurgy, mining-, pulp and paper-, food-, fertilizer-, other chemical industries and environmental technology.
Uutechnic Group’s business consists of one segment, Process Solutions, which is divided into two business lines: Mixing Technology and Tanks & Rolls. Mixing Technology business line consists of Stelzer Rührtechnik Int. GmbH and Uutechnic Oy. Tanks & Rolls business line consists of Japrotek Oy Ab and AP-Tela Oy.