On 1 October 2018, AS VALMIERAS STIKLA ŠĶIEDRA informed its shareholders that on 28 September 2018 an agreement for the sale of some P-D VALMIERA GLASS USA Corp. shares was signed with Lamtec Corporation.
AS VALMIERAS STIKLA ŠĶIEDRA announced that P-D VALMIERA GLASS USA Corp. share capital was increased through issuing 111 new shares. After the increase of the share capital, the existing shareholders in the US Company sold those 111 shares, which constitute 10% of P-D VALMIERA GLASS USA Corp., to Lamtec Corporation for the total of USD 10,000,000 in order to secure additional investments for the US Company.
That amount has already been received from Lamtec Corporation and all conditions of the agreement have been fulfilled, i.e. the deal with Lamtec Corporation has been concluded and Lamtec Corporation has become a rightful P-D VALMIERA GLASS USA Corp. shareholder acquiring 111 shares, or 10% of P-D VALMIERA GLASS USA Corp. total share amount.
The new P-D VALMIERA GLASS USA Corp. shareholder structure is as follows:
52% – AS VALMIERAS STIKLA ŠĶIEDRA (Latvia)
23% – P-D Management Industries-Technologies GmbH (Germany)
15% – Mr. Heinz-Jürgen Preiss-Daimler (Germany)
10% – Lamtec Corporation (Pennsylvania, USA).
The total amount of P-D VALMIERA GLASS USA Corp. shares after the deal is 1111 and the total share capital is USD 29,958,870.48.
Lamtec Corporation is a global supplier of insulation vapor retarders and facings to the leading manufacturers, laminators and fabricators of fiberglass, rockwool, foam board and tape.