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DGAP-News: SURTECO SE: is planning to take over the Süddekor Group


SURTECO SE / Key word(s): Acquisition

23.10.2013 / 14:28


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 SE  
 
Andreas Riedl
Chief Financial Officer
+ 49 (0) 8274/99 88-563
 
Martin Miller
Investor Relations and Press Office
+ 49 (0) 8274/99 88-508
 
 
Internet www.surteco.com
Email ir@SURTECO.com
Fax + 49 (0) 8274/99 88-515
 
 


End of Corporate News


23.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG.
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235835  23.10.2013