Lindab has today entered into an agreement to acquire Sipog Group, a
leading Slovak manufacturer of metal roofing and wall cladding
products, as well as roof drainage systems. The purchase price
amounts to EUR 24.5 million debt-free.
The Sipog Group has subsidiaries in Slovakia, Romania and the Czech
Republic, and sells products under the Rova trademark (roofing and
wall cladding) and the Vios trademark (roof drainage products). The
company employs 190 people in the countries mentioned. In 2007, the
company generated net sales of EUR 37 million and an operating profit
(EBIT) of EUR 4.7 million. The seller and his management team will
continue to work within Sipog Group after completion.
The acquisition is Lindab's first within the Building Components
division in the CEE/CIS and means that Lindab will become market
leader within metal roofing and wall cladding products, as well as
roof drainage systems in Slovakia. At the same time, it will further
strengthen Lindab's position in the Czech Republic and Romania where
Lindab is already well established. Coordination of the operations is
expected to bring about considerable synergy gains.
"The Sipog Group, with its headquarters located in Eastern Slovakia,
has grown rapidly and will complement our existing operations within
Building Components very well," says Peter Andsberg, Business Area
Manager, Lindab Profile. "Through the acquisition, we become the
market leader in Slovakia and gain access to cost efficient
production and an extended distribution network, as well as two
strong and well established brands."
"The CEE/CIS region is the geographical market showing the strongest
growth and this acquisition is entirely in line with our strategy to
focus on core products," says Lindab's CEO, Kjell Åkesson. "We
achieve greater market coverage and can utilise resources better in
order to further improve profitability in the future."
The acquisition is subject to Lindab obtaining approval by the
relevant competition authorities. The transaction is expected to be
completed during the summer of 2008.
End
The information here is that which Lindab International AB has
willingly chosen to make public or that which it is obliged to make
public according to the laws for Stock Exchange and Clearing
Operations Act and/or the Financial Instruments Trading Act.
Contacts:
LINDAB
Kjell Åkesson, CEO
Email: kjell.akesson@lindab.com
Tel. +46 (0)431 850 00 / 850 07
Mobile: +46 (0)70 618 50 07
Peter Andsberg, Business Area Manager, Profile
Email: peter.andsberg@lindab.com
Tel. +36 309 440 903
Nils-Johan Andersson, CFO
Email: nils-johan.andersson@lindab.com
Tel. +46 (0)431 85075
Mobile: +46 (0)70 66 85075
About Lindab:
Lindab is an international group that develops, manufactures and
markets sheet metal products and system solutions for the
construction sector.
The two business areas, Profile and Ventilation offer complete
solutions for construction systems and indoor climate, as well as
individual construction and ventilation components for all types of
buildings.
Lindab is listed on the Stockholm Stock Exchange, Nordic Large Cap
under the ticker "LIAB".
The Lindab group has approximately 5,000 employees in 30 countries
and generated sales of SEK 9,280 million in 2007. Its head office is
located in Grevie near Bastad in southwestern Sweden. For more
information visit www.lindab.com