DGAP-News: Armacell Group: Armacell acquires 100% of the shares of PoliPex Ltda. (PoliPex) - a leading Brazilian manufacturer of extruded polyethylene (PE) insulation foams

DGAP-News: Armacell Group / Key word(s): Expansion/Mergers & Acquisitions
Armacell Group: Armacell acquires 100% of the shares of PoliPex Ltda.
(PoliPex) - a leading Brazilian manufacturer of extruded polyethylene (PE)
insulation foams

12.10.2016 / 07:00
The issuer is solely responsible for the content of this announcement.

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Armacell acquires 100% of the shares of PoliPex Ltda. (PoliPex) - a leading
Brazilian manufacturer of extruded polyethylene (PE) insulation foams

* Extension of product portfolio into PE insulation foams
* Increase of regional sales coverage and customer service levels
* Addition of substantial technology know-how in PE insulation foams
* Significant increase of domestic manufacturing footprint


Luxembourg, October 12, 2016 - Armacell, a global leader in flexible foam
for the equipment insulation market and a leading provider of engineered
foams, has acquired 100% of PoliPex, a leading Brazilian manufacturer of
extruded PE insulation foams, in a share deal for an undisclosed amount.
This transaction significantly strengthens Armacell's product portfolio in
Latin America and increases the domestic customer service levels, as well
as, the support for regional OEMs. With the addition of the PoliPex plant
in Florianopolis in Southern Brazil, Armacell is well positioned to further
develop its manufacturing footprint in Latin America.
"PoliPex has decades of technology know-how in extruded PE production as
well as a strong domestic team. We are looking forward to serving our
clients across Latin America with a broader product portfolio and extended
customer service levels", explains Patrick Mathieu, President and CEO of
Armacell International S.A. "Historically, PoliPex exhibited solid growth
rates and healthy operating margins. The predicted rebound of the Brazilian
economy and the overall construction market make PoliPex an attractive
investment for us."
PoliPex is a market leader for extruded PE insulation foams in Brazil and
has approximately 80 employees. The company was founded by John Johannes
van Mullem in 1991 and maintains headquarters in Santa Catarina in the
South of Brazil, as well as, distribution centers in the South and the
Northeast of the country. In the calendar year 2015 PoliPex generated
revenues of approx. R$ 43 million.

About Armacell
Armacell is a world leader in flexible insulation foams for the equipment
insulation market and a leading provider of engineered foams. In 2015, the
company with currently approx. 2,800 employees and 23 production plants in
16 countries generated net sales of EUR 540.2 million.
Armacell operates within two main businesses:
Advanced Insulation develops flexible foams for the insulation of technical
equipment utilized for the transport of energy - such as heating,
ventilation & air conditioning (HVAC) and heating & plumbing (H&P) in
residential and commercial construction, process lines in the heavy- and
oil & gas industry, equipment in transportation, as well as, acoustics.
Engineered Foams develops high-performance foams for the use in a broad
range of end markets including transportation, automotive, wind energy,
sports and construction.
Armacell's products significantly contribute to global energy efficiency.
For more information, please visit: http://corporate.armacell.com/.

Contact:
Susan Krambo
Director Corporate Communications
Tel.: +49 251 760 3535
E-Mail: susan.krambo@armacell.com


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12.10.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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510267 12.10.2016