MRO Magazine

Pyrolyx AG Takes over Rival CCT Stegelitz GmbH


May 21, 2015
By Business Wire News

MUNICH

Pyrolyx AG is excited to announce that the notarial purchase contract for the previously announced proposed acquisition of cct Stegelitz GmbH has been signed, with closing expected in the near future. cct Stegelitz GmbH will be fully integrated into Pyrolyx AG, which will continue to invest in cct’s production site in Stegelitz in the German region of Saxony-Anhalt.

The acquisition of cct shall be financed by issuance of Pyrolyx AG convertible bonds and a cash capital increase with an issue price of EUR 103.00 per share. As part of the transaction, cct shareholders shall be issued 104,000 shares of Pyrolyx through a capital increase in kind, representing approximately 16% of the fully diluted and outstanding Pyrolyx shares at closing.

Pyrolyx AG intends to construct Pyrolyx production facilities in Stegelitz alongside the existing cct plant. Over the next 3 years, Pyrolyx AG plans to invest approximately EUR 30 million into the build-out of production capacities to establish the world’s largest environmentally sustainable producer of recovered carbon black from end of life tires.

The next Annual General Meeting of Pyrolyx will be held at Munich Stock Exchange on October 15 2015, at which time Pyrolyx AG’s management will present the integration of cct and the group’s organisational structure.

Pyrolyx

Pyrolyx AG is a Munich-based company specializing in practical and applied research into environmental technology.

The company has developed a unique process that enables valuable raw materials such as carbon black to be made from commercial rubber granules produced from for instance end-of-life tires. Carbon black is used to manufacture tires and various industrial rubber items. The Pyrolyx process enables a sustainable closed recycling loop for the first time for the reuse of end-of-life tires.

Pyrolyx owns all the intellectual property rights to Pyrolyx environmental technology and has various patents and patents pending concerning the industrial production of carbon black. Pyrolyx AG is quoted on the Primary Market of Düsseldorf Stock Exchange (WKN A0MFXR).

Carbon clean tech (cct) is a manufacturing company specializing in the recovery of carbon black from used rubber products such as tires by means of a patented process. cct’s industrial plant, the only ISO 9001:2008 and ISO 14001:2004 certified rCB producer anywhere in the world, has been in operation and supplying customers since 2012.

For more information, please visit www.pyrolyx.com.

Language:

 

English

Company:

Pyrolyx AG
Nymphenburger Str. 70
80335 München

Germany

Phone:

+49 (0)89 856 335 50

Fax: +49 (0)89 856 335 55
E-Mail:

info@pyrolyx.de

Internet:

www.pyrolyx.com

ISIN: DE000A0MFXR8
WKN: A0MFXR

Listed:

Regulated Unofficial Market in Dusseldorf

Pyrolyx AG – Munich
Rolf-Hendrik Arens
VP Communications & IR
Mobile: +49 (0) 151 7010 1070
Office: +49 (0) 89 856 3350
Email: arens@pyrolyx.com
www.pyrolyx.com