- Sale of substantial assets of Letron Electronic
- Letter of Intent for the acquisition of substantial assets of NewTal Elektronik + Systeme
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, announces that it has entered into an agreement with the international CCS Group (www.ccsedms.com) to acquire substantial assets of Letron Electronic. Under the terms of the agreement the existing customer relationships and some of the existing employees are also taken over by the CCS Group.
In addition, UET Group and CCS Group have signed a Letter of Intent, in which the sale of essential assets of NewTal Elektronik + Systeme was agreed. The intended transaction involves all existing customer relationships being taken over by the CCS Group. It is planned to continue the production site in Neu-Ulm within the CCS Group. Final agreements will be finalised within the next 4 weeks.
The total value of both transactions amounts to around 4.0 mn EUR. The planned income is intended primarily to reduce existing trade liabilities and to ensure the on-going development of the SYSTEMS and SERVICE business.
UET United Electronic Technology AG
Frankfurter Straße 80-82
Tel: + 49 (0) 6196 777755-0