Bolstering its strength in recording media formats, Carlton Communications plc of London is acquiring optical disc maker Nimbus CD International Inc. of Ruckersville, Va., for $264 million.
Stockholders and managers owning about 44 percent of Nimbus' shares have accepted a cash tender offer of $11.50 per share, Carlton said in a June 17 release.
Carlton's Technicolor division will benefit. Camarillo, Calif.-based Technicolor can produce 10 million videocassettes a week at facilities in three states and five European countries. Separately, Technicolor said June 6 it is buying 50 percent of Mexican videocassette maker Central de Video SA de CV from Grupo Video Visa.
Nimbus makes digital versatile and compact discs and has embarked on a $22 million plant and equipment upgrade. Nimbus replicates optical media in Ruckersville; Provo, Utah; Cwmbran, Wales; and, since November, Foetz, Luxembourg.
The firm has 20 small presses in the 120,000-square-foot Virginia plant and is adding six this year, Patrick Byrne, vice president of engineering, said in a telephone interview.
Nimbus has 18 presses in the 84,000-square-foot Utah facility; 21 at the 150,000-square-foot Wales site; and four in the 40,000-square-foot Luxembourg location, EuroNimbus SA.
A Nimbus unit owns 70 percent of EuroNimbus, and German newspaper and printing firm Saarbrucker Zeitung Verlag und Druckerei GmbH owns 30 percent.
Nimbus reported profit of $11.3 million on sales of $102.2 million for the nine months ended Dec. 31. It sold more discs in that period than the 1996 period, but the average disc-selling price declined to 70 cents from 80 cents, nearly offsetting the volume increase.