ROY Ceramics SE acquires Flex Space Kirby Interchange in Houston, Texas
17 August 2017, Hungen – Today, ROY Ceramics SE (WKN RYSE88, ISIN DE000RYSE888) concluded a contract regarding the acquisition of Kirby Interchange, a flexibly usable commercial space in Houston, Texas. This acquisition represents a further step to develop the production of ROY Ceramics SE in Houston, Texas, and to use available liquidity sensibly in the meantime to generate additional income for the company.
The acquired property includes a rentable area of 27,264 m2 on a property area of 58,801 m2 in total. The rental rate is currently approx. 80.2% with a weighted residual term of the current lease contracts of 2.97 years and predominant use as office space. Part of the vacant commercial areas are to be rented and ROY itself is to use part of them as office areas to accommodate the administration of the planned factory.
ROY Ceramics SE pays a purchase price of USD 24.8 million, which, in addition to company capital amounting to USD 9.3 million, is to be financed with USD 15.5 million via outside capital. The expected return on the capital on the rented space amounts to approx. 11.9% p.a. initially.
In this connection, the company intends to propose the expansion of the company’s purpose to its general meeting, to also expressly enable activity of the company in the area of the real estate business.
About ROY Ceramics SE
Until the sale of the operative subsidiary of the Group in China to White Horse, ROY Ceramics SE produced a complete range of sanitary and bathroom furnishings for use in mid- to high-priced PRESS RELEASE premises. ROY Ceramics SE delivered high-quality and aesthetically appealing sanitary products within the People’s Republic of China. After receipt of the payments by White Horse, ROY Ceramics SE aims to again become a leading provider of bathroom solutions for the Chinese and international markets with its ultramodern ceramics plant that will be built in Houston, Texas.
For further information please contact us at:
ROY Ceramics SE
Gießener Str. 42
Tel.: +49 (0)69 710455155
Or visit: www.roykeramik.de