Platform Specialty Products Corporation Announces the Closing of its Acquisition of HiTech Korea Co., Ltd by MacDermid Perfor...
09 Maggio 2018 - 1:00PM
Platform Specialty Products Corporation (NYSE:PAH) ("Platform")
announced today that its MacDermid Performance Solutions business,
which comprises the Performance Solutions segment, successfully
closed the strategic acquisition of HiTech Korea Co., Ltd.
(“HiTech”).
HiTech is an innovative provider of non-conductive electronic
adhesives that serve a variety of end-markets including mobile
phones, automotive, camera modules and LEDs for consumer devices.
Over nearly 30 years, HiTech has developed many quality products
that serve numerous large, global customers. The business is based
in South Korea with an additional presence in Vietnam.
Scot R. Benson, President of MacDermid Performance Solutions,
said “We are excited to welcome HiTech into our portfolio of
high-quality businesses around the world. We believe HiTech’s
products are very complementary to our existing customer offerings
within our global electronics business and believe customers
of both companies will benefit from this combination. The team at
HiTech brings an impressive culture of innovation and customer
service which lies at the heart of all our businesses. This is
another great step towards our goal of providing the most
comprehensive product portfolio to our loyal customer base.”
About Platform
Platform is a global and diversified producer of high-technology
specialty chemicals and a provider of technical services. The
business involves the formulation of a broad range of
solutions-oriented specialty chemicals, which are sold into
multiple industries, including automotive, agriculture, animal
health, electronics, graphic arts, and offshore oil and gas
production and drilling. More information on Platform is available
at www.platformspecialtyproducts.com.
Forward-looking Statements
This press release contains forward-looking statements,
including, but not limited to, the anticipated benefits of the
HiTech acquisition and Platform’s goal with respect to its product
portfolio. Actual results could differ from those projected due to
numerous factors, including Platform's ability to successfully
integrate and obtain the anticipated results and synergies from the
HiTech acquisition; Platform's ability to successfully complete the
previously-announced proposed separation of its Agricultural
Solutions and Performance Solutions businesses and realize the
anticipated benefits from it; the expected form, structure and
timing for completion of this proposed separation; adverse effects
on the two companies' business operations or financial results and
the market price of Platform's shares as a result of the completion
of this proposed separation; market volatility; legal, tax and
regulatory requirements; unanticipated delays and transaction
expenses; the impact of the proposed separation on Platform's
employees, customers, suppliers and lenders; the ability of the two
companies to operate independently following the proposed
separation; the diverting of management's attention from Platform's
ongoing business operations; the possibility of more attractive
strategic options arising in the future; and Platform's perception
of future availability of equity or debt financing needed to
complete the proposed separation and fund its operations.
Additional information concerning these and other factors that
could cause actual results to vary is, or will be, included in
Platform's periodic and other reports filed with the Securities and
Exchange Commission, including Platform's annual report on Form
10-K for the fiscal year ended December 31, 2017. These
forward-looking statements are made as of the date of this press
release and are based on management's estimates and assumptions
with respect to future events and financial performance. Platform
undertakes no obligation to update any forward-looking statements,
whether as a result of new information, future events or
otherwise.
CONTACT:
Investor Relations Contact:
Carey DormanSenior Director Corporate DevelopmentPlatform
Specialty Products Corporation1-561-406-8465
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