Keywords
Citation
(1999), "Chemetall acquires Brent International", Aircraft Engineering and Aerospace Technology, Vol. 71 No. 6. https://doi.org/10.1108/aeat.1999.12771fab.029
Publisher
:Emerald Group Publishing Limited
Copyright © 1999, MCB UP Limited
Chemetall acquires Brent International
Keywords Chemetall, Brent, Acquisition, Surface treatment
Having announced its takeover bid in July, Chemetall GmbH has now finalized the acquisition of the British company Brent International plc. Almost all of Brent's shareholders accepted Chemetall's offer of 118.5 pence per ordinary share. Chemetall now holds over 96 per cent of the ordinary shares. With approval granted by the German Federal Cartel Office on September 1, Chemetall now has a majority share in the company, which specializes in surface treatment technology and is quoted on the London Stock Exchange.
With the acquistion, Chemetall hopes to further expand its core business of surface treatment technology, which already contributed 32 per cent to Chemetall's DM1.2 billion sales volume in 1997/98. Brent's surface treatment chemicals and coatings for printed products brought in sales of £70 million (DM209 million) in fiscal 1998. By combining the knowledge of both companies and significantly improving its position in the market, Chemetall intends to further expand and globalize its core business activities.
Chemetall and Brent are already directing all their efforts towards the integration of the acquired company. Dr Ju«rgen Faesel, Chairman of the Boad of Chemetall GmbH, Thomas Klatt and Ernst-Joachim Molter were appointed to the Board of Directors of Brent International.
Chemetall GmbH is a wholly owned subsidiary of the Troisdorf-based Dynamit Nobel AG, which in turn belongs to Metallgesellschaft AG in Frankfurt.