H.C. Starck Acquired Majority Holding in InDEC
June 17, 2003
H.C. Starck GmbH recently announced that it has acquired a majority holding in InDEC B.V., a Dutch producer of fuel cell components. Three organizations -- H.C. Starck; ECN (Stichting Energieonderzoek Centrum Nederland), a Dutch research institute; and Planet Capital, Zeist/Netherlands, a major shareholder in InDEC -- initially signed a non-binding letter of intent concerning the takeover in November 2002. The transaction was ultimately concluded at the end of February 2003. H.C. Starck and ECN will also collaborate on a research project in the field of solid oxide fuel cells. The total investment will be in the two-digit million euro range.
For additional information, call (49) 5321-7510, fax (49) 5321-7516192 or visit http://www.hcstarck.com .