SURTECO GROUP SE / DE0005176903
03.04.2024 - 18:00:03SURTECO expands in United Kingdom
| SURTECO GROUP SE / Key word(s): Takeover 03.04.2024 / 18:00 CET/CEST The issuer is solely responsible for the content of this announcement. Acquisition of extrusion specialists Further growth with Profiles business in the UK Buttenwiesen, 3 April 2024 - SURTECO GROUP SE is acquiring all shares in Wand Plastic Profiles Limited, Stourbridge, CJM Development Limited, Stourbridge and R&D Extrusions Limited, Kettering, via its subsidiary Nenplas Ltd, Ashbourne, all in the UK, as part of a share deal. A purchase agreement was signed today. The purchase price is in the low single-digit million range. With the acquisition of these companies, the SURTECO Group will strengthen its market position in the profile business in the United Kingdom. „The acquisition will enable us to expand our growth with technical profiles in the UK and increase our profitability. This transaction is a further step in the implementation of our strategic objective," commented Wolfgang Moyses, Chairman of the Management Board of SURTECO GROUP SE, on the transaction. High innovative strength and above-average profitability The acquired companies specialize in the production and sale of plastic-based technical profiles and have recently generated significant double-digit returns. The companies have particular expertise in the British building market, which means that further growth potential can be leveraged in residential construction in addition to the expansion of the existing business. Further information about SURTECO GROUP SE can be found on the Internet at www.surteco.com. Profile of SURTECO SURTECO GROUP SE with registered office in Buttenwiesen is a mid-sized enterprise listed on the stock exchange with international operations. The company combines leading national and international brands for surface technology under one roof. Its comprehensive product portfolio includes papers printed with decor designs, impregnated materials, release papers, decorative flat foils and edge bandings based on specialist technical papers and plastics. This portfolio is complemented by skirtings made of plastics, technical extrusions (profiles) for industry, and roller shutter systems. The Group has a workforce of more than 3,500 employees at 24 production sites worldwide, generating annual sales of around € 835 million. 20 % of these sales are in Germany, 39 % in European countries outside Germany and a further 41 % in America, Asia and Australia. Customers of the SURTECO Group primarily come from wood-based, flooring and furniture industries, as well as from interior design. More information on the company is available at: www.surteco.com The shares in SURTECO GROUP SE are listed on the official market (Prime Standard) of the Frankfurt and Munich Stock Exchanges under the ticker symbol SUR and ISIN DE0005176903. They are also traded on the stock markets in Berlin, Düsseldorf and Stuttgart. Cautionary note regarding forward-looking statements This press release may contain statements of future forecasts or expectations and other forward-looking statements and involves known and unknown risks and uncertainties. There is therefore no guarantee for the statements and expectations expressed herein. The actual results and developments may differ substantially. The company assumes no obligation to update any forward-looking statements contained herein or to adapt such information to future results or developments. Contact:
03.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | SURTECO GROUP SE |
| Johan-Viktor-Bausch-Str. 2 | |
| 86647 Buttenwiesen | |
| Germany | |
| Phone: | +49 (0)8274 99 88-0 |
| Fax: | +49 (0)8274 99 88-5 05 |
| E-mail: | ir@surteco.com |
| Internet: | www.surteco.com |
| ISIN: | DE0005176903 |
| WKN: | 517 690 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1872371 |
| End of News | EQS News Service |
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