*

Hitt og þetta 26. apríl 2006

Promens hf acquires US moulding company Elkhart Plastics Inc

Nordic Business Report-April 26, 2006-Promens hf acquires US moulding company Elkhart Plastics Inc
(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com

Icelandic remote supervisory control and data acquisition systems developer and supplier Atorka Group hf said on Tuesday (25 April) that its subsidiary Promens hf, a plastics rotational-moulding company, had acquired Elkhart Plastics Inc (EPI), which runs four factories in the USA.

The purchase doubles the size of Promens in North America and the company's North American operations would generate about USD100m in revenue in 2006.

The purchase of the company is being financed by equity and loans. The acquisition price was not disclosed.

One US dollar (USD) is worth approximately 0.57 British pounds (GBP).

((Comments on this story may be sent to tww.feedback@m2.com))