STEICO Aktiengesellschaft / Contract
25.01.2008
Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- STEICO penetrates attractive markets with innovative hemp-based boards
- Production planned for third quarter
Feldkirchen (Munich) / January 25, 2008 STEICO AG, listed in the
Frankfurt Stock Exchange's Entry Standard, has concluded an agreement to
relocate its recently acquired production facility for boards made of hemp
shives. Stuttgart-based Scholpp Montage GmbH will relocate the facility
from Mecklenburg-Vorpommern to STEICO's facility in Czarnków (Poland). The
contract for dismantling, transporting and rebuilding the plant has a
volume of 1.86 million. This means that the STEICO Group is within its
calculated total investment budget of 4.5 million. The project is
scheduled to be completed in the third quarter of 2008. STEICO is
forecasting substantial income from this project from 2009, with the
potential total annual revenues totaling 20 million.
High value-added from integrated production process
STEICO, the European market leader for wood-fiber insulation materials and
manufacturer of environmentally friendly construction materials, acquired
this used production facility in September 2007. This is the only facility
of its kind in the world and processes hemp shives to make boards that are
low weight but very stable. This means that STEICO is able to further
process the hemp shives that are created as a by-product when producing its
hemp-based insulation materials, creating high value added. The shive
boards can be used to make particularly lightweight tabletops or work
surfaces. They are also used as bracing boards in wood construction. This
acquisition has added a further key element to the company's ecological
construction and insulation system, opening up additional attractive
markets.
'Scholpp Montage GmbH is one of the leading specialists for relocating
industrial equipment, and we are happy to have this company as our
partner,' explained Thomas Frei, STEICO AG's CFO. 'This will ensure that
this relocation is both fast and smooth.' Taking the machines into
operation on schedule will open up major opportunities for the company to
reinforce its position as a one-stop-shop for environmentally friendly
building products, and to penetrate additional markets.
Company profile:
The STEICO group of companies develops, produces and sells ecological
construction products made of renewable materials. The company leads the
European market for wood-fiber insulation materials with a market share of
more than 35%. The company also enjoys top rankings for its highly
effective cost structure and its research and development activities, which
are located in Germany. The group's new products 'Hemp insulation
materials' and 'I-joists' as construction elements for residential
construction mean that it has grown to become a system provider for
ecological construction products. The production of natural fiber boards
(NFB) as components for the I-joists rounds off STEICO's vertical
integration, which is unique within the industry. The Munich-based
company's products are successfully used in home building for floors,
walls, ceilings and roofs.
The STEICO Group plans to continue the double-digit sales and profits
growth it has enjoyed in the past few years thanks to its clear strategic
orientation. The strategic plans focus on existing and new products,
including for new customers. The funds from the IPO in June 2007 have
enabled the company to further bolster the group's solid foundations and
also to accelerate its growth. STEICO AG's success is set to continue
right on target.
Contact:
Andreas Schulze
STEICO Aktiengesellschaft
Hans-Riedl-Strasse 21
85622 Feldkirchen
Fon: +49-(0)89-99 15 51-48
Fax: +49-(0)89-99 15 51-97
Email: schulze@steico.com
www.steico.com
DGAP 25.01.2008
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Language: English
Issuer: STEICO Aktiengesellschaft
Hans-Riedl-Str. 21
85622 Feldkirchen
Deutschland
Phone: +49 - (0)89 - 99 15 51 - 0
Fax: +49 - (0)89 - 99 15 51 - 99
E-mail: info@steico.com
Internet: http://www.steico.com
ISIN: DE000A0LR936
WKN: A0LR93
Listed: Freiverkehr in Berlin, Düsseldorf, München; Entry Standard in
Frankfurt
End of News DGAP News-Service
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DGAP-News: Hemp production facility to relocate
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