In reference to the current report no 44/2010 of June 25th, 2010 the Management Board of Boryszew S.A. informs that a company Maflow BRS S.r.l. with the seat in Milan (100 % subsidiary of Boryszew S.A.) has signed a purchase agreement for the amount of EUR 200 th. on:
- 100 % of shares in Maflow Components (Dalian) Co. Ltd. In China, 9 Dalian Free Trade Zone III, B-1-1-1
- and 99.9 % of shares in Maflow do Brasil Ltds. In Brasil, Avenida Juscelino Kubitschek de Oliveira, 1361 CEP 81280-140 Curitiba.
Thereby Boryszew Group has finalized the process of purchase of international companies belonging to Maflow Group on the key arising markets for the automotive industry in Brasil and China.
The company Maflow do Brasil Ltds. Produces air-conditioned and power steering assemblies for the world-known car concerns, which works have been located in Brasil and Argentina (for example: Volkswagen Group, Fiat, Nissan, Renault).
The company Maflow Components (Dalian) Co. Ltd. In China has owned a complete production line including manufacturing of rubber compound and rubber hoses.
End-products of the work are air-conditioned and power steering hoses, which are sold to both Asian and European car concerns (for example: Audi, SenStar, Behr) to production works in China, Korea and Japan.
