DGAP-Ad-hoc: SMT Scharf AG / Key word(s): Takeover/Strategic Company Decision
SMT Scharf AG takes over Canadian mining specialist RDH Mining Equipment
Hamm, February 7, 2018 - SMT Scharf AG (WKN 575198, ISIN DE0005751986) has indirectly acquired 100 percent of the shares in RDH Mining Equipment, based in Alban, Canada, through its wholly-owned subsidiary SMT Scharf Corporation, also based on Alban, Canada. With the acquisition, SMT Scharf AG is strengthening its market position as an integrated system provider in the underground logistics area and is supplementing its product portfolio to include rubber-tire vehicles. The purchase price amounts to around CAD 8.0 million (corresponding to approximately EUR 5.17 million). A small proportion of the purchase price will be rendered in treasury shares of SMT Scharf AG, with the rest being paid in cash. For the cash component, SMT Scharf AG had at its disposal funds from the capital increase that SMT Scharf AG successfully realized in November 2017.
RDH Mining Equipment has specialized in high-quality underground equipment for mining and tunnel construction for more than 30 years and has been especially active in the North American market to date with a revenue share averaging above 50 %. Its product range extends from jumbo drilling equipment through to load-haul-dump machines (LHDs), scissor lifts and low-loaders. With around 50 staff, RDH generated sales of CAD 14.5 million (equivalent to around EUR 9.36 million) in its fiscal year ending April 30, 2017.
07-Feb-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||SMT Scharf AG|
|Phone:||+49 2381 960-01|
|Fax:||+49 2381 960-230|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|
652401 07-Feb-2018 CET/CEST