Valor buys Danish TraceXpert Operations

The transaction involves the purchasing of all shares of TV-Holdings – the company who currently owns the operations of TraceXpert. In August 2004 Valor became a partner in the TraceXpert joint venture. It had an option to purchase the full operation in 2007. Instead, in light of market demand, Valor has reached an agreement to conclude the purchase ahead of time and by doing so, to significantly extend the business potential in the Electronics Assembly market. Valor will pay approximately $10 Million for the purchased shares and for the profits accumulated by the Danish company. The deal will be carried out in cash, with the exception of $2 Million which will be deposited in a trust account. “I am excited about the purchase. TraceXpert is a profitable business with enormous potential”, said Ofer Shofman, Valor's President and CEO. “TraceXpert plays a key role in our planned solutions for the Electronics Assembly market, and I'm confident that this purchase will have a significant contribution to our success in the future”.