HDC
HDC
HDC - Hudaco Industries Limited - Voluntary announcement regarding the
acquisition of the trading assets and liabilities of Keys Makin Plastics
Proprietary Limited and Quality Compounding Proprietary Limited
HUDACO INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1985/004617/06)
Share code: HDC & ISIN: ZAE000003273
("Hudaco")
VOLUNTARY ANNOUNCEMENT REGARDING THE ACQUISITION OF THE TRADING ASSETS AND
LIABILITIES OF KEYS MAKIN PLASTICS PROPRIETARY LIMITED AND QUALITY
COMPOUNDING PROPRIETARY LIMITED (COLLECTIVELY "KEYMAK")
Hudaco has acquired the trading assets and liabilities of Keymak. The final
total consideration will depend on the average profits over a three year earn-
out period, with a maximum of R112 million and an initial payment of R52
million.
Keymak is a manufacturer and distributor of specialised PVC flexible hose,
mainly for the mining industry. These hoses are manufactured in line with
SABS 1086 standard and comply with the stringent requirements of the mines.
Keymak is an ideal fit for Hudaco and strongly complements the business of
Astore Africa, an established operation within Hudaco that distributes
specialised plastic pipes and pipe fittings for several industries, including
the mining industry. Keymak will operate as a separate business but will
seek synergies with Astore Africa.
The Transaction falls below the threshold of a category 2 transaction in
terms of JSE Listings Requirements and accordingly, this announcement is
purely for information purposes.
Johannesburg
13 June 2012
Sponsor
Nedbank Capital
Date: 13/06/2012 14:34:02 Produced by the JSE SENS Department.
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