DGAP-News: SURTECO SE: is planning to take over the Süddekor Group
(firmenpresse) - DGAP-News: SURTECO SE / Key word(s): Acquisition
SURTECO SE: is planning to take over the Süddekor Group
23.10.2013 / 14:28
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Press Release
SURTECO SE is planning to take over the Süddekor Group
- Pro-forma sales for 2012 are nearly EUR 650 million
- Expansion of market leadership focusing on decorative printing
- Finance for the acquisition to come from existing liquidity and capital
increase
Buttenwiesen-Pfaffenhofen, 23 October 2013 - SURTECO SE, one of the world's
leading manufacturers of surface materials based on plastics and technical
papers for the international construction and furniture industry, is
planning to take over all the shares in the companies of the Süddekor
Group. This takeover involves the companies SÜDDEKOR GmbH in Laichingen,
Dakor Melamin Imprägnierungen GmbH in Heroldstatt, SÜDDEKOR Art Design +
Engraving GmbH, Willich, SÜDDEKOR LLC, Agawam, USA, SÜDDEKOR Management
Inc. Agawam, USA and Süddekor OOO in Moscow, Russia. A purchase contract
for this acquisition was concluded today which is subject to standard
conditions and requires approval by the responsible merger control
authorities. In order to finance the acquisition, SURTECO SE is preparing a
capital increase against cash contributions with subscription rights for
existing shareholders and will also use available cash and cash
equivalents.
'The takeover of Süddekor will propel us to a leading position in the
decorative printing sector. Since our group sales will also increase to
some EUR 650 million and we perceive common potential effects, the takeover
represents an important step towards fulfilling the long-term strategy of
profitable growth', commented the Chairman of the Board of Management of
SURTECO SE Friedhelm Päfgen on the transaction.
Pro-forma sales for 2012 are approximately EUR 650 million
The SURTECO Group (sales for 2012: EUR 407.7 million; approximately 2,000
employees) will significantly strengthen its market presence in paper-based
products for surface coatings with the takeover of the Süddekor Group
(sales for 2012: around EUR 240 million; approximately 770 employees). The
focus will be the markets for decorative paper and finish foils. The
acquisition will also expand the Group's product portfolio.
Finance from existing liquidity and capital increase for cash
The company intends to finance the takeover of the Süddekor Group from
existing liquidity and from the net proceeds generated by the issue of a
capital increase against cash contributions from authorised capital with
subscription rights for shareholders planned for the end of October 2013 /
beginning of November 2013. Other details on the planned capital increase
for cash, which will not exceed 40% of the existing share capital, will be
announced in the coming days.
You can find additional information on the two companies on the Internet
pages: www.surteco.com and www.sueddekor.com.
About the SURTECO SE:
SURTECO SE, Buttenwiesen-Pfaffenhofen, is a leading international
specialist for surface technologies. The product portfolio includes papers
printed with decorative designs, decorative flat foils and edgebandings
based on specialist papers for technical applications and plastics. The
extensive product portfolio is completed by skirtings made of plastic,
do-it-yourself ranges and shutter and cladding systems.
The Group currently has a workforce of appr. 2,000 and manufactures at 15
sites on four continents, currently generating approximately 31 % of sales
in Germany, 43 % in European countries outside Germany and the remainder in
America, Asia and Australia. Customers of SURTECO generally come from the
furnishing industry and the construction sector.
The shares of the company 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/Bremen, Düsseldorf and Stuttgart.
About the Süddekor Group:
SÜDDEKOR is one of the leading specialists for surface refinement of
wood-based materials. The Group has an impressive reputation in the world
of trend-setting, innovative creation, printing high-quality decors and the
development of technically sophisticated surfaces. The product portfolio
comprises decorative papers, finish foils, impregnated materials and
separating papers.
This publication constitutes neither an offer to sell nor a solicitation
to buy or subscribe to securities. Any such offer will be made solely on
the basis of the Securities Prospectus to be published and registered with
the German Financial Supervisory Authority (BaFin). The information legally
required to be provided to investors is contained only in the Securities
Prospectus.
The information contained herein is not for distribution, directly or
indirectly, in or into the United States of America (including its
territories and possessions or any State of the United States of America or
the District of Columbia) and must not be distributed to U.S. persons (as
defined in Regulation S under the U.S. Securities Act of 1933, as amended
('Securities Act')) or publications with a general circulation in the
United States of America. This publication does not constitute or form part
of any offer or solicitation to purchase or subscribe for securities in the
United States of America. The Securities have not been and will not be
registered under the Securities Act and may not be offered or sold in the
United States of America absent registration or an exemption from
registration under the Securities Act, as amended. The Issuer does not
intend to register any portion of the offering in the United States of
America or to conduct a public offering of the Securities in the United
States of America.
This publication is not an offer of securities for sale in the United
Kingdom, Canada, Japan or Australia.
Cautionary note regarding forward-looking statements
This press release contains 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 does not intend to - and assumes no
obligation - to update any forward looking statements contained herein or
to adapt such information to future results or developments.
Contact:
SURTECO SEEnd of Corporate News
Andreas Riedl Martin Miller
Chief Financial Officer Investor Relations and Press Office
+ 49 (0) 8274/99 88-563 + 49 (0) 8274/99 88-508
Internet www.surteco.com
Email ir(at)SURTECO.com
Fax + 49 (0) 8274/99 88-515
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23.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: SURTECO SEJohan-Viktor-Bausch-Str. 2
86647 Buttenwiesen-Pfaffenhofen
Germany
Phone: +49 (0)8274 99 88-0
Fax: +49 (0)8274 99 88-5 05
E-mail: ir(at)surteco.com
Internet: www.surteco.com
ISIN: DE0005176903
WKN: 517 690
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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235835 23.10.2013
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Unternehmensinformation / Kurzprofil:
Datum: 23.10.2013 - 14:28 Uhr
Sprache: Deutsch
News-ID 308500
Anzahl Zeichen: 9817
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Kategorie:
Business News
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