Wednesday, May 14, 2008

Automotive Components Europe takes over local Feramo Metallum for EUR 6.3mn.

Email a Friend

All fields are compulsory

Your name:
Your email:

To include more than one recipient, please separate each email address with a semi-colon ';'

Recipient email(s):

Email yourself a copy?
Comments:

Add Your Comment

All comments are subject to editorial review.
All fields are compulsory

Your name:
Your email:
(will not appear)

You may email your comment to a friend
To include more than one recipient, please separate each email address with a semi-colon ';'

Recipient email(s):

Publish your name?
Receive email notification of new comments posted by other users?
Email yourself a copy?

Comments:

I have read and agree to the Terms and Conditions

Automotive Components Europe takes over local Feramo Metallum for EUR 6.3mn. Luxembourg-based company Automotive Components Europe (ACE) has acquired country’s major grey iron maker Feramo Metallum International (FMI) for CZK 160mn (EUR 6.3mn), the M&A newswire DealWatch informs. According to ACE CEO Jose Manuel Corrales, additional EUR 9mn will be spent on FMI future development. ACE, active in the production and supply of components for the automotive industry, will finance the purchase mainly from the funds raised (EUR 11mn) in its initial public offering on the Warsaw Stock Exchange in June 2007. In addition, BRE Bank will provide EUR 5mn loan to ACE and additional EUR 4mnoverdraft facility will be used. Brno-based FMI is an iron foundry specializing in production of castings for various industries, including the automotive sector, auto products comprise around 20% of the company’s total turnover.

The US treasury market reaches breaking point

Bank atlas: World's largest banks in 2008

Automotive Components Europe takes over local Feramo Metallum for EUR 6.3mn.

Email a Friend

Add Your Comment

Other ISI central and eastern europe stories

Dubai looking to life after the bubble

Investment banking: How to make money in 2009

Careers in hedge funds: Job market alive and kicking

Zurich Targets U.S. Owners For Insurance Expansion

Property hedge funds outperform

Pakistan's richest man in his first foreign interview: Mian Mansha, Nishat group

Pension funds: Widening the short-selling blame game

Islamic finance debate: Participants

SEC not alone in ignoring warnings: The Madoff collapse shames us all

Investment banking: How to make money in 2009

Are agency brokers the new powers in debt trading?

DCM review: Winners were also losers in 2008

Dubai looking to life after the bubble

Foreign exchange debate - Investing in FX: learning history lessons

Latest Issue