BRIEF-Raute buys veneer and lumber grading technology from US co Metriguard
April 3 RAUTE OYJ:
* SAID ON FRIDAY, STRENGTHENS ITS OFFERING FOR VENEER AND LUMBER GRADING TECHNOLOGY BY ACQUIRING BUSINESS OF METRIGUARD INC, PULLMAN, WASHINGTON, USA
* METRIGUARD’S BUSINESS WILL CONTINUE BY NEWLY ESTABLISHED RAUTE’S SUBSIDIARY METRIGUARD TECHNOLOGIES, INC
* PURCHASE PRICE, ESTIMATED AT $4.5 MILLION, IS PAID IN TWO INSTALLMENTS
* BASE PURCHASE PRICE OF $3.1 MILLION IS PAID AT CLOSING, ADDITIONALLY THERE WILL BE EARN-OUT PAYMENT BASED ON NET SALES FOR 12-MONTH PERIOD FOLLOWING CLOSING OF TRANSACTION
* ACQUISITION IS MADE AS AN ASSET PURCHASE
Source text for Eikon:
Further company coverage: (Gdynia Newsroom)