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Electronics Production | October 02, 2008

Topsil is completing acquisition of Cemat in Poland

Topsil has signed an agreements to acquire 95.92% of the share capital in Cemat Silicon S.A. The purchase price of the shares totals PLN 74.8m, corresponding to DKK 164.4m.
Topsil anticipates that the remaining 4.08% of the share capital, which is held by the neighbour and founder of Cemat Silicon, ITME (Institute of Electronic Materials Technology), can be acquired by Topsil on similar terms. It is expected to conclude a final agreement on acquisition of the remaining shares during the coming months.

Topsil expects to take over management of Cemat Silicon S.A. in end-October 2008, and as an-nounced in stock exchange announcement No.13/08 the former CFO of Topsil in the period 2004-2007, Martin Overgaard Hansen, will be appointed CEO of Cemat Silicon S.A.

In the fourth quarter of 2008 Cemat Silicon is expected to contribute with a turnover of about DKK 30m. After allowing for restructurings and nonrecurring costs of approximately DKK 2m in connection with the acquisition, a break-even result (EBIT) is predicted in Cemat Silicon for the accounting year 2008.

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