DGAP-News: Nabaltec AG / Key word(s): Miscellaneous
Nabaltec AG announces expansion and reorganization of US operations
Schwandorf, 21 June 2018 - Nabaltec AG will be significantly expanding its operations in the US. After successful examination of the location, Nabaltec has decided to acquire land and buildings in Chattanooga, Tennessee for the construction of a refined hydroxide production plant with a capacity of about 30,000 tons per year. Naprotec LLC has been formed for this purpose and will serve as a production company. The Group's shares in this company have been contributed to the newly formed subsidiary Nabaltec USA Corporation. Nabaltec will be significantly extending its production portfolio in the US for halogen-free flame retardants. The investment volume for the first phase of the project is expected to amount to about USD 12 million. Based on current estimates, the plant is to be built by mid-2019. Nabaltec expects the new plant to have a positive impact on consolidated earnings one year after it goes online.
The Group's shares in Nashtec will also be contributed to Nabaltec USA Corporation. Nabaltec USA Corporation will be responsible for performing administrative tasks for all US companies, such as accounting, as well as for overseeing Nabaltec Group's sales activities in North America.
About Nabaltec AG:
|Phone:||+49 9431 53-0|
|Fax:||+49 9431 53-260|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|