Nanogate acquires 100 percent stake in subsidiary GFO

Nanogate acquires 100 percent stake in subsidiary GFO

12:21 PM, 8th July 2015
Nanogate acquires 100 percent stake in subsidiary GFO
Ralf Zastrau, CEO, Nanogate AG. (File photo)

GOTTELBORN, GERMANY: As previously announced, Nanogate AG said it has acquired a 100 percent stake in its subsidiary GfO AG as part of its growth strategy. In view of the good prospects and the previously strong level of growth, Nanogate exercised its existing majority option at the start of the year acquiring the almost 25 percent outstanding shares.

Financial details were not shared but the purchase price includes a small share component in addition to cash, Nanogate said.

Meanwhile, the capacity expansion in the inkjet division has been concluded. Thanks to new orders – in the automotive sector for example – the second plant will shortly be running at high capacity.

“We now intend to expand the close collaboration from increasing business activities with new projects. The market for high-quality coatings is continuing to develop extremely rapidly, and we are appropriately equipped to meet the challenge. The good prospects are also confirmed by the strong demand for our inkjet technology – unique in Europe – the second plant now having doubled capacities,” said Ralf Zastrau, CEO, Nanogate AG.

Since Nanogate’s participation, the subsidiary’s sales and operating result have increased significantly, resulting in Nanogate already extending its equity holding to 75 percent plus one share.

The second-generation inkjet coating facility increases not just capacity, but also significantly improves efficiency. The new inkjet machine features an innovative printing technology, improved processes and greater speed. It means, for example, that several orders can be processed simultaneously. The investment volume is in the low seven-digit euro range. The new inkjet facility allows Nanogate subsidiary GfO AG to create more jobs at the Schwabisch Gmund site. The inkjet technology enables the partial coating of small, two-dimensional plastic components to a high optical standard without a mask, Nanogate said.

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