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Mersen — M&A Activity 2009
May 4, 2009
1518_iss_2009-05-04_c4890cac-8db0-418f-98cb-64d766c741a1.pdf
M&A Activity
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Carbone Lorraine has announced the disposal of the Brushes and brushholders for automobile and household electrical appliances division to US investment fund MidMark Capital.
This sale represents a key phase in the strategic refocusing drive that the Group has been pursuing in recent years. It has notably included the divestment of all its activities in the automobile industry. This objective has now been attained.
The businesses sold include assets and companies located largely in Germany, France, India, Mexico and Tunisia. The number of employees transferred stands at around 1,500.
The divestment was priced at €20 million. Given the difficulties currently facing the automobile industry, Carbone Lorraine has agreed to participate in the financing for this transaction. €10 million will be received over a period of five years, including 40% in 2009. The remainder of the consideration will be received based on a timetable depending on the performance of the business.
The Group recognized the disposal in its 2008 financial statements based on a price tag of €10 million, which is the portion of the consideration not linked to attainment of objectives.
The division's sales came to €70 million in 2008 and €12 million in the first quarter of 2009. It recorded an operating loss before non-recurring items of €6.6 million in 2008.
PRESS RELEASE
About Carbone Lorraine
World leader of graphite solutions and electrical components, Carbone Lorraine specializes in the implementing of high technology materials in demanding industrial environments and in the development of systems, which are fundamental to the smooth operation of the motor and the protection of electrical equipment. With over 85% of its sales carried out internationally, the Group holds leadership positions in all of its occupations.
| Advanced Materials and Technologies: | - | N°1 worldwide in anti-corrosion equipment in graphite |
|---|---|---|
| - | N°2 worldwide in high temperature applications of isostatic graphite |
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| Electrical components and Technologies: Electrical Applications: |
- | N°1 worldwide in brushes for electrical motors |
| Electrical Protection: | - | N°1 worldwide in fuses for powerful semi conductors |
| - | N°2 worldwide in industrial fuses |
The Group is listed at Premier Marché de la Bourse de Paris and is a part of the following indices CAC Mid100, SBF120 et Next 150. Find Carbone Lorraine on Bloomberg: CRL FP and on Reuters: CBLP.PA
Visit our Internet website www.carbonelorraine.com
Analyst and Investor Contact
Sébastien Desarbres VP Investor Relations Carbone Lorraine
Tel.: +33 (0)1 46 91 54 49 [email protected]
Press Contact
Publicis Consultants Vilizara Lazarova
Tel.: +33 (0)1 57 32 86 46 [email protected]