DGAP-News
Pyrolyx AG: Merger in the Recovered Carbon Black Market
DGAP-News: Pyrolyx AG / Key word(s): Investment/Merger
Pyrolyx AG: Merger in the Recovered Carbon Black Market
12.02.2015 / 14:03
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Merger in the Recovered Carbon Black Market
Pyrolyx AG and carbon clean tech AG have agreed trough a Non-Binding Term
Sheet to the Essential Details of a Planned Merger
- Through the planned merger Pyrolyx AG will become the world's largest
producer of recovered carbon black (rCB) from post-consumer rubber &
tires
- 10 M Euros investment volume through Pyrolyx AG into research and
development, production and sales
- Expansion of cct's industrial-scale rCB plant through the building of a
complimentary production facility with Pyrolyx-patented technology
Munich and Potsdam, 12.02.2015
Pyrolyx AG and carbon clean tech AG (cct AG) announce the planned merger of
the two European market leaders in the production of recovered carbon black
(rCB), detailed in a non-binding term sheet signed today. The planned
merger will strengthen capabilities for production, research and
development and sales of a critical component of sustainable polymers. rCB
is produced from post-consumer rubber & tires instead of oil and is a
cost-effective, sustainable alternative to traditional carbon black for a
variety of plastics and rubber applications, including rubber compounds for
tires.
A significant component of the transaction is that cct Stegelitz GmbH, a
fully owned subsidiary of cct AG, will be incorporated into Pyrolyx AG by
way of a capital increase. In exchange cct AG will receive shares
corresponding to a share of 16.6% of the share capital of Pyrolyx AG.
Furthermore, the total value of cct Stegelitz GmbH will be compensated with
an additional cash component. Through this agreement, cct founders and
shareholders will remain committed to, and involved in continuing to build
the combined company.
Pyrolyx AG is a Munich-based company specializing in practical and applied
research in environmental technology, including a unique process that
enables rCB production from commercial rubber granules from post-consumer
tires. cct AG, based in Saxony-Anhalt and Potsdam, Germany, is the leading
European producer of rCB, with an industrial production facility in
Stegelitz near Magdeburg, serving customers since 2012.
The term sheet has been agreed upon by all cct shareholders and the Pyrolyx
AG Supervisory Board. Completion of the transaction is scheduled for end of
Pyrolyx AG and carbon clean tech AG have agreed trough a Non-Binding Term
Sheet to the Essential Details of a Planned Merger
- Through the planned merger Pyrolyx AG will become the world's largest
producer of recovered carbon black (rCB) from post-consumer rubber &
tires
- 10 M Euros investment volume through Pyrolyx AG into research and
development, production and sales
- Expansion of cct's industrial-scale rCB plant through the building of a
complimentary production facility with Pyrolyx-patented technology
Munich and Potsdam, 12.02.2015
Pyrolyx AG and carbon clean tech AG (cct AG) announce the planned merger of
the two European market leaders in the production of recovered carbon black
(rCB), detailed in a non-binding term sheet signed today. The planned
merger will strengthen capabilities for production, research and
development and sales of a critical component of sustainable polymers. rCB
is produced from post-consumer rubber & tires instead of oil and is a
cost-effective, sustainable alternative to traditional carbon black for a
variety of plastics and rubber applications, including rubber compounds for
tires.
A significant component of the transaction is that cct Stegelitz GmbH, a
fully owned subsidiary of cct AG, will be incorporated into Pyrolyx AG by
way of a capital increase. In exchange cct AG will receive shares
corresponding to a share of 16.6% of the share capital of Pyrolyx AG.
Furthermore, the total value of cct Stegelitz GmbH will be compensated with
an additional cash component. Through this agreement, cct founders and
shareholders will remain committed to, and involved in continuing to build
the combined company.
Pyrolyx AG is a Munich-based company specializing in practical and applied
research in environmental technology, including a unique process that
enables rCB production from commercial rubber granules from post-consumer
tires. cct AG, based in Saxony-Anhalt and Potsdam, Germany, is the leading
European producer of rCB, with an industrial production facility in
Stegelitz near Magdeburg, serving customers since 2012.
The term sheet has been agreed upon by all cct shareholders and the Pyrolyx
AG Supervisory Board. Completion of the transaction is scheduled for end of