30th Mar 2016 08:59
LONDON (Alliance News) - Industrial products distributor 600 Group PLC on Wednesday said it has agreed to acquire the remaining 20% of TYKMA Inc it does not own.
600 acquired 80% of TYKMA in February and will cover the remaining 20% stake through the issue of 12.0 million shares, worth about GBP900,000, and USD1.8 million in cash. 600 shares were up by 2.4% to 7.55 pence Wednesday.
TYKMA is a US-based laser marketing business.
600 also said trading in its Machine Tools unit has improved in recent weeks, with stronger orders books in the US and Europe and some initial success through new distributors in Asia.
By Sam Unsted; [email protected]; @SamUAtAlliance
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