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, 6 June 2006
Tomra Systems ASA