English

ACQUISITIONS OF Z. BAVELLONI AND GLASTO

Report this content 


 Kyro Corporation   STOCK EXCHANGE RELEASE  20.01.2003 at 5.30 p.m.
 
 
 ACQUISITIONS OF Z. BAVELLONI AND GLASTO BY KYRO FINALIZED
 
 The purchase by Kyro Corporation of all the shares of Z. Bavelloni
 Immobiliare S.p.A. and all the shares of Glasto Holding B.V has been
 finalized according to the agreement of 12 December, 2002.
 
 The first one of the two instalments of the acquisition price has
 been paid as of this date and all the shares of the companies have
 been transferred to the ownership of Kyro Corporation. Figures for
 Z. Bavelloni and Glasto will be consolidated in the Kyro Group’s
 glass and stone processing technology business as of 1.1.2003.
 
 The acquisitions are a very important step in Kyro’s growth
 strategy. With these acquisitions Kyro’s glass technology group
 develops from being the market leader in safety glass machines to
 becoming the leading equipment supplier for the whole glass
 processing industry and expands the group’s business also to stone
 processing machinery and tools.
 
 The acquisitions create a close co-operation between Z. Bavelloni
 Group, Glasto Group, and Tamglass Group, as all the companies are
 now fully owned subsidiaries of Kyro Corporation. The sales and
 service networks of the companies form the most extensive service
 network in the glass processing machinery industry.
 
 Kyro Corporation
 
 
 Pentti Yliheljo
 President and CEO
 
 
 Additional:          President and CEO Pentti Yliheljo,
 Information          +358 3 372 3100
 
 Investor Relations:  Kyro Corporation, Mr. Mika Nevalainen,
                      VP, Corporate Communications, telephone
                      +358 400 882 024, IR pages at the Internet
                      address www.kyro.fi
 
 Distribution:        The Helsinki Stock Exchange
                      Key media

Subscribe