Tomra Systems ASA (TOMRA), through its fully owned subsidiary TiTech Visionsort (TiTech), has on 6 June 2006 entered into an agreement to acquire 100 percent of the shares in CommoDaS GmbH (CommoDaS). Headquartered in Wedel in Germany, CommoDaS is a leading provider of advanced recognition and sorting technology for high-value material fractions such as metals, plastics, glass, minerals and gems. The company generated a positive profit on revenues of approximately NOK 75 million in 2005 and expects strong, profitable growth going forward. More than 450 CommoDaS sorting systems have been sold worldwide. CommoDaS has several partners and distributors spanning most European countries, the US, Japan and South Africa. For more information about CommoDaS, reference is made to the website www.commodas.de.

 

The acquisition of CommoDaS represents another important step towards realizing TOMRA's strategy and ambition of becoming a leading global provider of advanced solutions that enable recovery and recycling of used materials. By acquiring CommoDaS, TOMRA expands and complements its portfolio of industrial processing technology. CommoDaS brings to the table both unique, patented technology and leading market positions in several fast-growing segments of the recycling equipment industry. In addition to representing an interesting growth case on its own, CommoDaS is a strong strategic fit with TiTech. Thus, CommoDaS will be operated in close coordination with TiTech. While TiTech is a world-leader in optical recognition and sorting of used household packaging, CommoDaS is a leading provider of advanced technology for recognition and sorting of metals (hereunder cars and electronic & electrical waste), plastics (hereunder flakes), glass, minerals and gems. CommoDaS' solutions are based on a variety of different technologies such as X-ray, color line-scan cameras and metal sensors. Together, TiTech and CommoDaS will have a strong market position in most relevant segments of the recycling equipment industry and an unrivalled technology base from which to grow further.

 

The purchase price of the transaction equals an enterprise value of approximately NOK 100 million (including NOK 10 million in net debt). A conditional payment is triggered if the EBIT margin in CommoDaS exceeds 15% in 2007. Closing of the transaction is scheduled to take place end of June 2006. TOMRA will finance the purchase price through cash reserves.

 

For questions or further comments, please contact President & CEO Amund Skarholt (+47 97 55 94 25) or VP Investor Relations Håkon Volldal (+47 97 71 99 73).

 

 

 

Asker, 7 June 2006

Tomra Systems ASA