Polymer group Nolato buys U.S. medtech firm for 2 billion SEK

STOCKHOLM (Reuters) - Swedish polymer product and component maker Nolato NOLAb.ST said on Thursday it had agreed to buy U.S. medical technology company GW Plastics.

“The acquisition price, including contingent consideration, is estimated to be approximately SEK 2 billion ($231.17 million), around SEK 1.8 billion of which is to be paid upon transfer of ownership,” it said in a statement.

Nolato, which makes products in polymer materials such as plastic and silicone for sectors ranging from medical technology, telecom, automotive and white goods to gardening and hygiene products, said the deal marginally boost 2020 earnings.

It expects to finalise the acquisition, which is funded by cash and new credit agreements, in September.

Reporting by Anna Ringstrom