MONTREAL, QUEBEC--(Marketwired - Dec. 6, 2017) - NanoXplore Inc. ("NanoXplore") (TSX VENTURE:GRA), a world leading graphene company, announced today that it has finalized the acquisition of CEBO Injections SA ("CEBO"), a Swiss-based precision injection molding company, from BCR Plastic Group. CEBO's total sales for 2016 were 5.9M Swiss francs ("CHF") (Non-audited, Swiss GAAP). NanoXplore has acquired all the outstanding shares of CEBO for a total of 2.3M CHF, with 1.5M CHF having been paid to BCR Plastic Group, 0.4M CHF to be paid after 12 months, and another 0.4M CHF to be paid after 24 months. Export Development Canada provided debt financing of 1.15M CHF to support this transaction.
Following the transaction, both Mr. Cornelis Smit, CEO and founder of CEBO, and Mr. Thierry Poulleau, Director of Sales of CEBO, continue in their positions. In anticipation of continued strong growth, CEBO has placed an order for two new ARBURG precision injection molding machines.
"It is a pleasure to welcome CEBO to our plastic division and we are very excited that Mr. Smit and Mr. Poulleau are continuing with the company." says Dr. Soroush Nazarpour, President and CEO of NanoXplore.
NanoXplore is a graphene company, a manufacturer and supplier of high volume graphene powder for use in industrial markets as well as standard and custom enhanced thermoplastic products to many customers in transportation, packaging, electronics and other industrial sectors. For more information visit www.nanoxplore.ca.
NanoXplore Inc. On behalf of the Board
"Soroush Nazarpour, Ph.D." President and Chief Executive Officer
This press release may contain forward-looking statements. All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumption was made and on management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors deemed appropriate in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Forward-looking statements are not facts, but only predications and can generally be identified by the use of statements that include phrases such as "anticipate", "believe", "continue", "could", "estimate", "foresee", "grow", "expect", "plan", "intend", "forecast", "future", "guidance", "may", "predict", "project", "should", "strategy", "target", "will" or similar expressions suggesting future outcomes.
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