LISI GROUP - 2018 Financial report

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12/31/2018 12/31/2017
Companies Head office Country
% of
control
% of
interests
% of
control
% of
interests
LISI JIEHUA AUTOMOTIVE Co. Ltd Hong Kong Hong Kong 100.00 100.00 100.00 100.00
LISI AUTOMOTIVE Monterrey SA de CV Monterrey Mexico 100.00 100.00 100.00 100.00
LISI AUTOMOTIVE Form a.s Cejc Czech Republic 100.00 100.00 100.00 100.00
LISI Otomotiv Sanayi ve Ticaret Limited Sirketi Izmir Turkey 100.00 100.00 100.00 100.00
Termax Corp. Lake Zurich USA 51.00 51.00 51.00 51.00
Termax Int. LLC Lake Zurich USA 51.00 51.00 51.00 51.00
Termax Int. Inc. Lake Zurich USA 51.00 51.00 51.00 51.00
Termax Canada Corp. Windsor Canada 51.00 51.00 51.00 51.00
Termax Mexico Querataro Mexico 51.00 51.00 51.00 51.00
Termax Fasterner Systems Suzhou China 51.00 51.00 51.00 51.00
Shanghai Branch Suzhou China 51.00 51.00 51.00 51.00
LISI AUTOMOTIVE TANGER Tangiers Morocco 100.00 100.00
LISI AUTOMOTIVE Hi-Vol Inc Livonia USA 100.00 100.00
LISI MEDICAL Division
LISI MEDICAL JEROPA inc. Escondido (California) USA 100.00 100.00 100.00 100.00
LISI MEDICAL REMMELE Inc Minneapolis USA 100.00 100.00 100.00 100.00
LISI MEDICAL FASTENERS SAS Neyron (01) France 100.00 100.00 100.00 100.00
LISI MEDICAL ORTHOPAEDICS SAS Hérouville Saint-Clair (14) France 100.00 100.00 100.00 100.00
LISI MEDICAL SAS Neyron (01) France 100.00 100.00 100.00 100.00
LISI AUTOMOTIVE Hi-Vol Inc entered the scope of consolidation on September 21, 2018.
Creation of LISI AUTOMOTIVE TANGER June 27, 2018.
December 31, 2018, the LISI Group sold LISI AUTOMOTIVE BETEO GmbH.
2.3.5 IAcquisitions of subsidiaries
InapplicationofstandardIFRS3onbusinesscombinations,theLISIGroup
has 12 months from the acquisition date to make a final allocation of the
acquisition price and a final calculation of the goodwill. Therefore, the
amounts recognized to December 31, 2018 as a result of the acquisition of
alloftheHi-VolProductsLLCassetsarelikelytobereviewedatsubsequent
year-ends. These amountsmay concern certain assets and provisions.
Details of the impact of this acquisition on the Group consolidated balance sheet are given below:
In thousands of euros
Recognized fair value
on the acquisition date Notes
Fixed assets 17,023 2.5.1.2
Other net short-term assets and liabilities 1,098
Net inventories 3,787 2.5.2.1
Net debt 0
Taxes and provisions
Cash and cash equivalents (6)
Total net position of the incoming company 21,904
% of the assets recovered 100%
Share of the minorities 0
Share of net position acquired by Hi Shear Corp 21,904
Acquisition price 43,378
Consolidation goodwill 21,475
As the transaction consisted of the acquisition of all assets of Hi-Vol Products LLC, the acquisition amount appears under “cash acquired” in the cash
flow statement (see paragraph 1.3)