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BRIEF-Raute buys veneer and lumber grading technology from US co Metriguard
April 3, 2017 / 9:50 AM / 6 months ago

BRIEF-Raute buys veneer and lumber grading technology from US co Metriguard

April 3 (Reuters) - 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

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Further company coverage: (Gdynia Newsroom)

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