MacDermid Today Announces the Acquisition of Autotype International Ltd.DENVER -- MacDermid, Incorporated a worldwide manufacturer of proprietary specialty chemical A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. products and materials for the electronics, metal finishing and graphic arts industries (NYSE NYSE See: New York Stock Exchange : MRD MRD or mrd abbr. minimal reacting dose ) today announced the acquisition of Autotype (1) To automatically determine the type or configuration of a hardware model or elements within a program (variables). (2) To automatically fill in the remainder of a field with name, address, URL or any other data as soon as you have typed in the first several International Ltd. and associated entities from Norcros (Holdings) Limited of the UK, a portfolio company of Bridgepoint Capital Limited. With locations in Wantage UK, Chicago, Singapore and Denmark, Autotype is a high technology producer of specialty coated film products for the electronics and printing industries. In electronics, Autotype is the leading producer of hard coated films for the membrane switch and touch screen markets. It has recently introduced films for light management of nomadic devices, unique films for in-mold decoration, and medical applications. It is believed Autotype is the only manufacturer in the world who can replicate nano scale structures through a high volume cost-efficient process on the surface of films. In printing, Autotype provides high quality stencil stencil, cutout device of oiled or shellacked tough and resistant paper, thin metal, or other material used in applying paint, dye, or ink to reproduce its design or lettering upon a surface. materials and digital pre-press products for screen printing. For the year ended March 31, 2005 Autotype had revenues of $86.5million (BPS (Bits Per Second) The measurement of the speed of data transfer in a communications system. 1. BPS - Basic Programming Support 2. bps - bits per second 47.9 million). Accretion is expected to be $.05 per share per quarter not including synergies. Autotype employs 390 people in Europe, Asia, and North America. All will join MacDermid effective today. MacDermid will fund the acquisition with cash on hand. MacDermid has extensive underutilized capacity in its Middletown, Delaware coating factory. This capacity can be utilized by Autotype to support additional growth potential from a US dollar cost base and to defer the need to build new capacity at other locations. Dan Leever, MacDermid Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said "we have been looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. the right opportunity to invest our retained cash for some time. We have been holding out for an investment that held the potential to improve our underlying growth rate. We believe the Autotype team is unusually innovative, and its products enjoy excellent growth prospects. Additionally, MacDermid's infrastructure in Asia will improve the chances of successful commercialization of these new and exciting products. Autotype has world class coating technology as evidenced by their unique nano scale replication capability. This is not a story about cost savings and synergies although there will be some. It is about growth". Norcros was represented by Morgan Joseph & Co. Inc. in the transaction. Website: http://www.macdermid.com http://www.autotype.com MacDermid, Incorporated NYSE - MRD CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. 554273 10 2 This report and other Corporation reports and statements describe many of the positive factors affecting the Corporation's future business prospects. Investors should also be aware of factors that could have a negative impact on those prospects. These include political, economic or other conditions such as currency exchange rates, inflation rates, recessionary or expansive trends, taxes and regulations and laws affecting the business; competitive products, advertising, promotional and pricing activity; the degree of acceptance of new product introductions in the marketplace; technical difficulties which may arise with new product introductions; and the difficulty of forecasting sales at certain times in certain markets. |
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