Emerald Group Publishing Limited
Copyright © 2000, MCB UP Limited
JOT automation group and PMJ automec to merge
Keywords JOT Automation Group, PMJ automec, Mergers and acquisitions
The boards of directors of JOT Automation Group Plc and PMJ automec Corporation, have decided to propose to the general meetings of shareholders of the companies that the companies be combined through a merger. The proposed name of the new company is JOT Automation Group Plc. The combination of the companies' resources and technological know-how into one publicly listed company will create a global industry leader. The combination will support the strong growth of the business and boost the global activities. The management of the companies believes the combination to be in the interest of the companies' customers, personnel and shareholders.
The combined net sales of the merging companies during the financial year ended 31 December 1999 amounted to approximately 140 million euros and the combined result of the operations to a profit of 17.4 million euros. The combined growth of net sales amounted to 58 per cent compared with the previous year. The combined equity amounted to 59.5 million euros. The combined market capitalisation of the companies' publicly listed shares as of 18 February 2000 was 2,416 million euros. The companies employ approximately 1,000 people.