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02/02/2008 - Dr. Hönle AG acquires adhesives specialist Panacol AG Dr. Hönle AG (ISIN: DE0005157101), Gräfelfing, Munich, a leading systems supplier of industrial UV technology, acquires all shares in Panacol AG, Switzerland. The corporate group develops, produces and markets adhesives, and has three significant business locations in France, Germany and Switzerland. In addition, an international sales network exists through subsidiaries and cooperations. Panacol’s brand products are well-established on the industrial adhesives growth market, and the company supplies a broad customer base with its products. The Hönle Group aims at further extending its systems competence through this acquisition and at increasing the proportion of the continuous share of consumer goods in group revenue. Moreover, it will benefit from development and sales synergy effects within the Hönle Group. The existing adhesives business, which has been carried out through Wellomer GmbH to date, will be substantially extended as a result of the Panacol Group acquisition. The purchase agreement stipulated acquisition of Panacol AG as of 1 January 2008. With the takeover of the Panacol Group, annualised consolidated revenue of the Hönle Group will rise to nearly € 40 million. |
