Cobar Group officially becomes part of Balver Zinn
3 October 2007
News
The Cobar Group officially became part of Balver Zinn recently, with the final full transfer of ownership of Cobar to the non-ferrous metals producer headquartered in Balve, Germany. The intended merger was first announced in March 2007 with the signature of a Letter of Intent (LOI) relating to Cobar joining the Balver Zinn Group. The conclusion of the agreement realises a transfer of full ownership of Cobar to Balver Zinn. As a member of the Balver Group, Cobar will lead the future development of solder paste, solder fluxes and related products, while Balver Zinn will continue to focus on the metallurgy of the solder materials.
Josef Jost, managing director of Balver Zinn, commented: "Our merger with Cobar strengthens our product range by adding world-class solder paste, solder fluxes and other products. This new partnership provides strong opportunities for future growth of the entire Balver Zinn Group. We will enjoy the teamwork with our new family members."
With a consolidated annual turnover exceeding Euro 70 million, the new partnership positions Balver Zinn as one of the largest suppliers of solder materials in Europe. Each member of the group will continue to use its own manufacturing infrastructure, marketing network and brand name.
The acquisition price has not been disclosed.
www.balverzinn.com
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