Business
Receipt of Competition Clearance for Murat Ticaret
Receipt of Competition Clearance for Murat Ticaret.
About this update from Volex Plc
[{"type":"text","content":"\n\n07 August 2023\n \nVolex plc\n \n(\"Volex\", or the \"Group\")\n \nReceipt of Competition Clearance for Murat Ticaret\n \nVolex plc (AIM: VLX), the specialist integrated manufacturer of critical power and data transmission products, announces that, following receipt of competition authority clearances in both Turkey and Macedonia, all conditions for the acquisition of Murat Ticaret Kablo Sanayi A.Ş. (\"Murat Ticaret\") have been satisfied.\n \nCompletion of the acquisition of Murat Ticaret is now expected to take place at the end of August.\n \nNat Rothschild, Executive Chairman of Volex, said:\n \n\"We are pleased to have received the clearances from the Turkish and Macedonian competition authorities. Murat Ticaret is a transformational acquisition which further diversifies the Group, providing significant exposure to a new, global off-highway manufacturing end market, and will accelerate the progress against our five-year plan.\n \n\"Since announcing the transaction in June, we have been developing our integration plans, and working closely with local management to explore how collaboratively, a combination of these two businesses will benefit our customers, and generate significant value for our shareholders. We are also delighted with the positive engagements we have had with Murat Ticaret's major customers, and excited by the opportunities emerging to grow these relationships through Volex's global footprint and advanced manufacturing capabilities.\"\n \n \nFor further information please contact:\n\n\n\nVolex plc\nNat Rothschild, Executive Chairman\nJon Boaden, Chief Financial Officer\n\n\n+44 (0)7971 156 431\[email protected]\n\n\n\n \n\n\n\nPeel Hunt LLP - Nominated Adviser & Joint Broker\nEd Allsopp\nTom Ballard\nBen Harrington\n\n\n+44 (0)20 7418 8900\n \n\n\n\n \n\n\n\nHSBC Bank plc - Joint Broker\nSimon Alexander\nJoe Weaving\n\n\n+44 (0)20 7991 8888\n\n\n\n \n\n\n\nPowerscourt - Media Enquiries\nJames White \nNicholas Johnson\n\n\n+44 (0)20 7250 1446\n\n\n\n\n\n\n\n\n\n\n\nAbout Volex\n \nVolex ...