Haydale Graphene Buys Back 100% Control Of US Arm

Haydale Graphene Buys Back 100 Control Of US Arm - Companies Featured Financial Graphene

Haydale Graphene Industries PLC (LON:HAYD) has bought out the outstanding minority of US subsidiary Haydale Technologies Inc from InVentures for US$513,500.

The price for the 13.5% interest stake was determined by an independent valuation conducted on HTI, which included the acquired nanomaterials business, Advanced Composite Materials.

Haydale now owns the entire issued share capital of HTI.

Ray Gibbs, CEO of Haydale, said: “We are pleased to have obtained 100% ownership of our US operations.  HTI is already making a meaningful contribution to the Group’s performance and we believe there is significant further sales potential for our high quality silicon carbide fibres and whiskers.

Broker Cantor Fitzgerald described it as clearly positive and will boost sales opportunities for HTI’s high quality silicon carbide fibres and whiskers. Buy with a target price of 230p.

Source: ProactiveInvestors