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Article: Manufacturing: Alkane hopes pounds 2.8m proposal will improve profitability.(Business)
- Article from:
- The Birmingham Post (England)
- Article date:
- August 21, 2003
CopyrightCOPYRIGHT 2003 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Methane gas company Alkane has announced the proposed acquisition of a majority interest in German gas processing, manufacturing and production company Pro2 in a deal worth pounds 2.8 million.
Pro2 is a specialist which focuses on methane extraction and utilisation.
Under the terms of the proposal, announced yesterday Alkane, of Edwinstowe, Nottinghamshire, will pay pounds 2.04 million to acquire 51 per cent of Pro2's equity and a further pounds 1.96 million loan.
The acquisition is conditional upon shareholder approval at an EGM to be held on ...