Atorka Group acquires about 30% stake in CPS


Atorka acquires about 30% stake in CPS
- a global leader in its field 

Atorka has acquired a 29.81% holding in Clyde Process Solutions plc (CPS) in connection with the issue of new CPS shares. CPS is listend on the AIM market in London.  The total price of the purchase is GBP 9 million. Prior to the acquisition, Atorka owned GBP 1 million in the company, or approximately 9.7% of share capital. The purchase price will be paid in cash. After the increase in share capital, CPS will purchase all shares in the American company MAC Equipment Inc. 

CPS is a world leader in the production of highly developed pneumatic conveying systems for production processes as well related solutions for filtration and polution reduction. The company has operations in all the continents. These systems reduces costs and polution and enhance efficiency in production processes. It is used in a number of sectors, including the production of gypsum, cement, and steel, as well as the food and chemical industry. Among CPS' customers are General Electric, Exxon Mobil, Kraft, Wrigley's and Nestlé. The combined company has a turnover of approximately ISK 7 billion. 

Atorka is the company's largest shareholder, with a stake of almost 30% today. Following the acquisition, Atorka has the right to appoint one member to the company's Board of Directors. 

Magnús Jónsson, CEO of Atorka:
"This investment is very compatible with our investment strategy. CPS and its subsidiaries operate in growth markets and are worldwide leaders in their field. We see a wealth of opportunity in the market in which CPS operates, and we intend to support the company's growth over the months and years to come." 

For further information, contact Magnús Jónsson, CEO of Atorka (tel. +354 540 6200).