Home     >     Technology     >    

Johnson Electric Announces Binding Offer to Acquire AML for €65 million (US$72 million)

HONG KONG, CHINA - - Feb 5, 2016 - Johnson Electric Holdings Limited ("Johnson Electric") (HKSE: 179), a global leader in electric motors and motion subsystems, today announced that it has signed a binding offer to acquire AML Développement, which is the holding company of AML Systems ("AML").  AML is a leading supplier of active modules for vehicle headlamp systems.  Under the terms of the offer which is in the form of a "put" option agreement, subject to the selling shareholders exercising the put option following information and consultation processes with the employees and their representatives, Johnson Electric would acquire the entire share capital of AML Développement for €65 million in cash. 


AML, headquartered in Le Bourget, France, is a leading supplier of headlamp levelers, smart actuators and headlamp cleaning systems for the automotive industry with consolidated revenues for the year ended 30 June 2015 of €99.6 million.  Employing approximately 500 individuals, AML operates two production facilities, one in France and one in China.  AML has a strong R&D team of 60 employees located in France and in China serving automotive suppliers worldwide.  Since its spin-off from Valeo Group in 2010, AML has been under majority ownership by Syntegra Capital, a private equity firm.


Dr. Patrick Wang, Johnson Electric's Chairman and Chief Executive, commented, "AML's  headlamp product offering will complete Johnson Electric's product portfolio in the segment.  With AML's know-how and over 20 years of experience in headlamp actuation, the combined business will be able to offer solutions that improve visibility and enhance safety of drivers and other road users."


Johnson Electric has agreed to acquire AML in an all-cash transaction that values the entire share capital of AML Développement at €65 million.  Johnson Electric will finance the acquisition with a combination of its current cash balances and proceeds from existing revolving credit facilities.  After completion of the transaction, Johnson Electric shall cause AML Développement, using its cash reserves where applicable, to repay the existing financial indebtedness, which amounts to €7.5 million.


Following the information and consultation processes with the employees and their representatives and the exercise of the put option by the selling shareholders, the parties would execute a share purchase agreement.  The transaction is expected to close in the second quarter of 2016, subject to customary conditions including obtaining applicable regulatory approvals.


Freshfields Bruckhaus Deringer LLP acted as legal adviser to Johnson Electric.


Company Logo


About Johnson Electric Group


The Johnson Electric Group is a global leader in electric motors and motion subsystems. It serves a broad range of industries including automotive, building automation and security, business machines, food and beverage equipment, home technologies, HVAC, industrial equipment, medical devices, personal care, power equipment and power tools. The Group is headquartered in Hong Kong and the total global headcount stands at over 37,000 individuals located in Asia, the Americas and Europe. Innovation and product design centres are located in Hong Kong, China, Canada, Switzerland, Germany, Italy, Israel,  Japan, the UK and the USA.  Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (HKSE: 179). For further information, please visit: www.johnsonelectric.com.


Forward Looking Statements


This news release contains certain forward looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric.


Words such as "outlook", "expects", "anticipates", "intends", "plans", "believe", "estimates", "projects", variations of such words and similar expressions are intended to identify such forward-looking statements.  Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results or performance of Johnson Electric to be materially different from any future results or performance expressed or implied by such forward looking statements.  Such forward looking statements are based on numerous assumptions regarding Johnson Electric's present and future business strategies and the political and economic environment in which Johnson Electric will operate in the future.

  • Media Contact
  • Johnson Electric Holdings Limited
Information contained on this page is provided by an independent third-party content provider.This Site make no warranties or representations in connection therewith.If you are affiliated with this page and would like it removed it please contact service@ceapress.com
Related tags: Electronics

Shanghai Electric Completes Phase B of 900-MW fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park

2022-09-02 16:38:00

Shanghai Electric announced that Phase B of the 900-MW fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park has entered operation. As part of the world's largest photovoltaic plant under construction, the project will aid Dubai's push to upgrade and transform its energy mix by providing 2.268 billion kWh of power supply per year upon completion, enough to serve up over 240,000 homes and capable of reducing 1.1 million tonnes of carbon emission annually.

Hikvision reports first half 2022 financial results

2022-08-19 19:34:00

Hikvision has reported its financial results for the first half year of 2022. During the reporting period, the company generated a revenue of RMB 37.26 billion, up 9.90% year over year . Net profits attributable to shareholders of the listed company were RMB 5.76 billion, reflecting a YoY decrease of 11.14%.

Absen reaches an historic milestone of signing 1000 global channel partners

2022-06-30 12:21:00

Global LED solutions manufacturer Absen, has announced that an historic milestone has been reached. The expansion plan for Absen's global partnership network has been a success and has reached the 1000 channel partner mark. The valued partnership network is a keystone of Absen's global architecture, and the success of the recruitment drive strengthens the company's leading position as LED innovations and technologies specialist and supports market growth.

Embark on A Personalised Search Journey with Petal Search

2022-06-30 11:51:00

With over 3.5 billion searches made daily over a wide range of search topics, and up to 55% of teens using alternate search methods such as voice search, search engines are required to be dynamically versatile. Petal Search takes the user's search journey a step further by allowing users to discover information relative to their search instead of just providing answers to further personalise search services.

Pantum Launches New 3-in-1 Monochrome Laser Printer Series M7310 with Enhanced Connectivity and Printing Capability

2022-06-29 12:59:00

Pantum, a brand that develops, manufactures, and sells laser printers and toner cartridges around the world, announced a new monochrome laser printer series M7310 equipped with upgraded features to help enhance productivity for office workers. The new line-up is mainly suited for enterprises, government organizations, and it expands Pantum's high-end series by providing customers with additional options and a better printing experience.

NetDragon's Promethean Reaches Strategic Cooperation with Merlyn Mind to Drive Classroom Productivity and Innovative Teaching

2022-06-29 12:09:00

NetDragon Websoft Holdings Limited , a global leader in building internet communities, is pleased to announce that its subsidiary Promethean, a leading global education technology company, has entered into a US-based exclusive distribution agreement with Merlyn Mind, Inc. Under the new distribution agreement, Promethean will distribute Symphony Classroom™, the voice-activated artificial intelligence solution that brings the Merlyn digital assistant to teachers. With the alliance, customers will be able to purchase Symphony Classroom directly through Promethean's network of resellers.