Leading German manufacturer, COBEX HoldCo, becomes a wholly owned subsidiaryTokai Carbon acquired all of the shares of COBEX HoldCo GmbH (now Tokai COBEX HoldCo GmbH) in July 2019. By acquiring this company’s smelting cathode and furnace lining businesses, Tokai Carbon has expanded the Group’s business portfolio. 2019 Highlights Portfolio dominated by two main business segments Diversifying earnings drivers to ensure stable resultsOverview of Tokai COBEXCompany name: Tokai COBEX HoldCo GmbH (changed from COBEX HoldCo GmbH upon becoming a subsidiary)Founded: 1895 Paid-in capital: 25,000 euroLocations: Head office in Germany and two production plants in PolandEmployees: Approx. 900 employees including about 210 contracted employeesGoals of the acquisitionSegment sales before and after the acquisitionAcquire a new business with good prospects for stable earningsTokai Carbon aimed to improve its business portfolio and reduce its dependence on the Graphite Electrodes and Carbon Black businesses by expanding into peripheral markets. 01Acquire two highly cost competitive production plantsTokai Carbon has bolstered its European operations by acquiring two highly cost-competitive production plants in Poland.02Generate synergies in technology and marketingTokai Carbon will leverage the synergistic effects of related carbon and graphite manufacturing technologies as well as marketing operations.03As of Jun. 30, 2019(before acquisition)Graphite Electrodes28%Other Operations4%Fine Carbon12%Industrial Furnaces and Related Products6%Carbon Black38%As of Dec. 31, 2019(after acquisition)Smelting and Lining12%Graphite Electrodes41%Other Operations5%Fine Carbon11%Industrial Furnaces and Related Products4%Carbon Black39%20TOKAI CARBON ANNUAL REPORT 2019
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