Page 48 - Kitron Annual Report 2011

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Notes to the consolidated financial statements
48
Kitron annual report 2011
(Amounts in NOK 1000)
2011
2010
Cash Consideration
-
-
Total consideration transferred
-
-
Recognised amounts of identifiable assets acquired and liabilities assumed
Cash and cashequivalents
75
Property, plant and equipment. Note 6
2 205
Other long term receivables
183
Inventories
616
Trade and other receivables
1 639
Trade and other payables
(1 265)
Borrowings
(5 907)
Total identifiable assets
-
(2 454)
Goodwill
2 454
Total identifiable assets and goodwill
-
-
On the 17th of December 2009 Kitron ASA signed a Share Purchase Agreement to acquire 100% of the
shares in VERU Electronic GmbH on a debt free basis. The deal where closed January 26th 2010. The good-
will is based on the view taht Germany is the largest EMS market in Europe and is seen as the market having
the highest potential within Electronics in Europe due to historical strong level of innovation and engineering
competence. It is the country in Europe that has the highest potential for further outsourcing of electronics
manufacturing. Having a local entity gives credibility and shows long-term commitment. The German entity shall
market the total value chain of Kitron and be our local centre for NPI (New Products Introduction) and small se-
ries manufacturing in Germany. There is no taxdeductables for the goodwill. There has been no new business
combinations in 2011
Note 30 Business combinations