VOLEX: Purchase of Turkish power cord producer expected to expand European activities -- K Trade Fair

19.11.2020

Plastics News by Plasteurope.com

VOLEX: Purchase of Turkish power cord producer expected to expand European activities

UK manufacturing services group Volex (Basingstoke; www.volex.com) said it has paid up to EUR 61.8m for Turkish power cord manufacturer De-Ka Elektroteknik Sanayi ve Ticaret Anonim Sirketi (Deka, Çayirova/Kocaeli; www.de-ka.com).

Volex, whose products are used in applications for medical equipment, data networking equipment, data centres, mobile computing devices and factory automation, said it would pay an initial cash sum of EUR 37m for Deka, and EUR 9.8m in Volex shares to be paid to Dekas sellers.

Further cash payments totalling EUR 15m are be made within two years of the completion date, subject to trading targets being hit.

Deka employs 450 staff, and Volex said the deal would expand its reach across Europe.

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