Amtek

Amtek: Is proposing to acquire Interplex Industries by the merger of its subsidiary into Interplex, for US$210m. Interplex is a global leader in the design and manufacture of miniature precision engineered solutions for a diverse group of end-markets, with key customers are likes tech giant Apple, auto suppliers Bosch, Denso, TRW, and tyre maker Continental. Strategically, the merger will create one of the largest precision engineering companies with global sales of be approx US$1b, across 15 countries and 13,500 employees. This is also a platform for Amtek to move out from a waning HDD market into more diverse areas, servicing not just a more blue-chip customer base, but also across diversified geography. EPS for Amtek is expected to grow from US4.93¢ to US5.18¢ after the deal, while gearing is expected to jump from 24% to 134.6%