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2006-06-09 News Headlines

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TOMRA recycling equipment industry acquisition

The recycling equipment industry acquisition of CommoDaS is another important addition of advanced solutions that enable recovery and recycling of used materials for TOMRA.

Tomra Systems ASA (TOMRA), through its fully owned subsidiary TiTech Visionsort (TiTech), has on 6 June 2006 entered into an agreement to acquire 100 percent of the shares in CommoDaS GmbH (CommoDaS). Headquartered in Wedel in Germany, CommoDaS is a leading provider of advanced recognition and sorting technology for high-value material fractions such as metals, plastics, glass, minerals and gems. The company generated a positive profit on revenues of approximately NOK 75 million in 2005 and expects strong, profitable growth going forward. More than 450 CommoDaS sorting systems have been sold worldwide. CommoDaS has several partners and distributors spanning most European countries, the US, Japan and South Africa. For more information about CommoDaS, reference is made to the website www.commodas.de.

Tomra Systems ASA - Helping the World Recycle. Click Go for larger image. photo: TOMRA

The acquisition of CommoDaS represents another important step towards realizing TOMRA's strategy and ambition of becoming a leading global provider of advanced solutions that enable recovery and recycling of used materials. By acquiring CommoDaS, Tomra Systems ASA expands and complements its portfolio of industrial processing technology. CommoDaS brings to the table both unique, patented technology and leading market positions in several fast-growing segments of the recycling equipment industry. In addition to representing an interesting growth case on its own, CommoDaS is a strong strategic fit with TiTech. Thus, CommoDaS will be operated in close coordination with TiTech. While TiTech Visionsort is a world-leader in optical recognition and sorting of used household packaging, CommoDaS is a leading provider of advanced technology for recognition and sorting of metals (hereunder cars and electronic & electrical waste), plastics (hereunder flakes), glass, minerals and gems. CommoDaS' solutions are based on a variety of different technologies such as X-ray, color line-scan cameras and metal sensors. Together, TiTech and CommoDaS will have a strong market position in most relevant segments of the recycling equipment industry and an unrivalled technology base from which to grow further.

The purchase price of the transaction equals an enterprise value of approximately NOK 100 million (including NOK 10 million in net debt). A conditional payment is triggered if the EBIT margin in CommoDaS exceeds 15% in 2007. Closing of the transaction is scheduled to take place end of June 2006. TOMRA will finance the purchase price through cash reserves.

TOMRA designs and operates cost-effective systems that make it attractive for people to return used beverage containers for reuse or recycling. These systems consist of a wide range of products and services which complement our principal product group, reverse vending machines.

Reverse vending machines, or RVMs for short, are automated machines that utilize advanced technology to identify, sort, collect and process used beverage containers. In most cases, RVMs are used in markets that have deposits on beverage containers, offering an efficient and convenient method of identifying the deposit amount of each container returned and providing a refund to the customer.

Find information about Tomra Systems ASA.

Read a recent press release from TOMRA about - 'Tesco Plc to invest in Tomra Recycling Centres that recycle plastics, metals, glass and packaging materials as a part of its on-going commitment to WRAP.'

Find Information and Suppliers of recycling equipment.

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