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Glunz & Jensen A/S Acquires Stake in Othonia Curing Technology A/S; Maintains FY 2012/2013 Financial Guidance


Monday, 6 May 2013 05:00am EDT 

Glunz & Jensen A/S announced that it has through its subsidiary Glunz & Jensen Microflex A/S acquired the initial 16.8% stake in the company Othonia Curing Technology A/S (Othonia) for DKK 230,000. In addition, Glunz & Jensen acquired option to purchase the remaining shares in Othonia. Othonia develops a computer-controlled UV-LED concept for curing surfaces. Glunz & Jensen Microflex will initially offer the technology for flexo prepress industry. The company will in the future cooperate with Othonia on the development and commercialization of the technology. Othonia‚Äôs products are planned to be marketed by Glunz & Jensen companies against payment of a license fee to Othonia A/S, which other owners are Energy Invest Fyn A/S, Styrelsen for Forskring og Innovation, Syddansk Teknologisk Innovation A/S and Science Ventures Denmark A/S. The transaction does not affect the Company's expectations for the financial year 2012/2013. Thus, the Company expects fiscal year 2012/2013 revenue in a range of between DKK 355 million and DKK 375 million and a fiscal year 2012/2013 operating profit, EBITA of between DKK 26 million and DKK 28 million. 

Company Quote

48.5
-1.5 -3.00%
8:52am EDT