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LiqTech Signs SPA to Acquire Plastics Manufacturer as Key Component of Margin Optimization Program
BALLERUP, Denmark, Aug. 20, 2019 /PRNewswire/ -- LiqTech International, Inc. (NASDAQ: LIQT) ("LiqTech"), a clean technology company that manufactures and
About this update from Liqtech International, Inc.
[{"type":"text","content":" BALLERUP, Denmark, Aug. 20, 2019 /PRNewswire/ -- LiqTech International, Inc. (NASDAQ: LIQT) (\"LiqTech\"), a clean technology company that manufactures and markets highly specialized filtration technologies, today announced the signing of a Share Purchase Agreement (SPA) to acquire BS Plastic A/S, a specialized plastics manufacturer based in Denmark. The acquisition allows LiqTech to in-source certain components of its proprietary and market-leading ceramic silicon carbide water filtration systems for closed loop marine scrubber applications. The acquisition is expected to close in the third quarter of 2019.\nBS Plastic was founded in 1958 as a provider of machined and welded plastic parts and is currently a supplier of plastic components to LiqTech. Recently, BS Plastic has focused on parts for the prepress, UV and aquaculture market segments. \nSune Mathiesen, CEO of LiqTech International, commented, \"We are excited to advance one of the key components of our margin optimization program — the in-sourcing of certain core manufacturing activities. Upon closing of the acquisition, LiqTech will immediately in-source the manufacturing of plastic tanks and machined plastic products for its water filtration systems. We expect the payback to shareholders to be relatively short on this investment, based on cost savings and profit from BS Plastic´s existing operations. We are excited to integrate the BS Plastic team into the LiqTech Group and look forward to further leveraging their capabilities in the years to come.\"\nAbout LiqTech International, Inc.\nLiqTech International, Inc., a Nevada corporation, is a clean technology company that for more than a decade has developed and provided state-of-the-art technologies for gas and liquid purification using ceramic silicon carbide filters, particularly highly specialized filters for the control of soot exhaust particles from diesel engines and for liquid filtration. Using nanotechnology, LiqTech develops products using proprietary silicon carbide technology. LiqTech's products are based on unique silicon carbide technology which facilitate new applications and improve existing technologies. LiqTech offers a wide range of filters and membranes for micro- and ultrafiltration, and by incorporating LiqTech's SiC liquid membrane technology with the Company´s long-term systems design experienc...