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IPTE to Buy Platzgummer GmbH

Written by Philip Buonpastore
Tuesday, 08 January 2008
BRUSSELS - IPTE has signed a letter of intent to buy a majority stake in German automation company Platzgummer GmbH, before acquiring it in full. IPTE will take an 80% holding this year and the remaining 20% in 2010. Platzgummer has annual sales of between $11.76-$14.70 million . No financial details were given.

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