BioTech

Polymer group Nolato buys US medtech firm for 2 bln SEK

Swedish polymer product and component maker Nolato said on Thursday it had agreed to buy U.S. medical technology company GW Plastics.

STOCKHOLM, Aug 6 (Reuters) - Swedish polymer product and component maker Nolato NOLAb.ST said on Thursday it had agreed to buy U.S. medical technology company GW Plastics.

"The acquisition price, including contingent consideration, is estimated to be approximately SEK 2 billion ($231.17 million), around SEK 1.8 billion of which is to be paid upon transfer of ownership," it said in a statement.

Nolato, which makes products in polymer materials such as plastic and silicone for sectors ranging from medical technology, telecom, automotive and white goods to gardening and hygiene products, said the deal marginally boost 2020 earnings.

It expects to finalise the acquisition, which is funded by cash and new credit agreements, in September.

($1 = 8.6475 Swedish crowns)

($1 = 8.6516 Swedish crowns)

(Reporting by Anna Ringstrom)

((anna.ringstrom@thomsonreuters.com; +46 8 502 423 74; Reuters Messaging: anna.ringstrom.thomsonreuters.com@reuters.net))

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