XANO acquires Danish rotational moulding company

XANO has today acquired the renowned rotational moulding company Dansk Rotations Plastic ApS (DRP). Based in Kalvehave, Denmark, DRP has been developing and manufacturing rotomoulded polymer products for over 50 years. The company's services include everything from design and toolmaking to production and post-processing. Its customers are leading companies involved in cleantech, chemical industry, lighting and furniture manufacturing, mainly located in Denmark. DRP's sales are evenly distributed between customer-specific assignments and in-house developed products in industry, agriculture, cleantech and leisure. The company reported a turnover of DKK 47 million for the 2022/2023 financial year. 

DRP will be part of XANO's Industrial Products business unit, which includes companies that work in polymer materials and have a strong focus on sustainability. Like its new sister companies, DRP offers products made from recycled plastic and materials with bio-content that reduce the carbon footprint. Other materials used are fully recyclable. 

DRP complements operations at Cipax by adding expertise and production capacity, as well as providing access to new markets. Cipax already has a strong position in the Nordic region and Northern Europe. The acquisition creates new business opportunities for the proprietary product ranges in the industry, marine and cleantech segments at both Cipax and DRP.

Consolidation will be effective as of 5 April 2024. The acquisition is expected to have a marginal impact on XANO’s earnings per share.  

Within the framework of the acquisition, the sellers' wish was to reinvest the equivalent of a maximum of DKK 10 million of the purchase sum received through the acquisition of XANO shares. XANO's Board of Directors has therefore decided to exercise the Annual General Meeting's authorisation for acquisition and transfer of the company's own shares, which is valid until the end of the 2024 Annual General Meeting. 179,442 own shares of class B have been transferred at a price of SEK 86 per share. Payment for the shares has been received in the form of a debt certificate of SEK 15.4 million.

Prior to the transaction, XANO's own holding amounted to 509,132 Class B shares, which was also the maximum number of shares that could be transferred. After the transfer, the number of Class B shares in own custody amounts to 329,690, corresponding to 0.6 per cent of the total share capital.