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Current report Return >

2012

Number Date Subject
7/2012 2012-03-13 Purchase of assets of German Group YMOS

In connection with the current reports no 94/2011 of October 31st, 2011, no 113/2011 of December 31st, 2011 and no 7/2012 of February 28th, 2012 the Management Board of Boryszew S.A. informs that it has been signed today the purchase agreement of assets of German companies YMOS GmbH, YNOS Ubrig GmbH and YMOS Prenzlau GmbH between the bankruptcy trustee of assets of YMOS Group’s companies (Seller) and subsidiaries of Boryszew S.A. (Buyer).
The purchased assets consist of, among others,: fixed assets, current assets, real-estates, tangible and intangible assets, good will, rights resulted from selected agreements from contractors (clients and suppliers).
Total purchase amount of above mentioned assets amounts to EUR 9,890,303.95 and may be changed depending on the status of inventories as at the day of acquisition.
The suspension condition of the contract is the agreement of Creditors Council of YMOS Group. Payment of the purchase amount and agreement of the individual creditors of YMOS Group’s companies, who are entitled to collateral securities on the YMOS Group’s companies assets are conditions of the execution of the agreement .
The Sellers are entitled to withdraw from a contract in case of opposition of the individual creditors possessing the collateral securities on the YMOS Group’s companies assets till March 16th, 2012.
The Buyer is entitled to withdraw from a contract in case of not release of the purchased real-estates from liabilities as well as not presenting all required permits and certificates for legal executing the contract.
YMOS Group is the leading European producer of plastic, galvanized and chromium-plated elements for automotive sector, including finished sets of car door opening systems. It is also a producer of alloys metals elements , such as: emblems of cars, locks and door handles and other elements of car equipment.
Main receivers are the car industry companies: VW, Audi, Daimler, Valeo, Bentley and Rolls-Royce as well as Miele – a well-known producer of house-hold equipment.
Acquisition of assets of YMOS Group’s companies is a further step in the way of development of Boryszew Group as an international concern in automotive sector. In 2010 and 2011 Boryszew S.A. purchased Maflow Group’s companies (car industry cables) and companies of AKT/Theysohn Group (plastic elements). Purchase of YMOS Group will bring significant increasing of costs synergies in AKT/Theysohn Group by jointly using of machinery park and central functions, such as: R & D and sale. It will allow to Boryszew Group to produce galvanized and chromium-plated elements, which sale in the car industry has systematically increased. The purchased assets will increase the share of automotive sector in the revenues of the whole Boryszew Group to 40 %.

Signatures:
Małgorzata Iwanejko – President of the Management Board

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