Corporate | 7 July 2017 17:31

SURTECO SE: SURTECO reports closing of the purchase contract for take-over of the Probos Group in Portugal

DGAP-News: SURTECO SE / Key word(s): Takeover

07.07.2017 / 17:31
The issuer is solely responsible for the content of this announcement.

SURTECO reports closing of the purchase contract for take-over of the Probos Group in Portugal

– Consolidation of the highly profitable manufacturer of plastic edgebandings from July 2017

– Expansion in strategically important markets in South and Central America

Buttenwiesen-Pfaffenhofen , 7 July 2017 – SURTECO SE, one of the world’s leading manufacturers of decorative surface materials and producer of technical extrusions (profiles) made of plastic, reports closing of the purchase contract relating to the acquisition of the Probos Group in Portugal. This means that the highly profitable manufacturer of plastic edgebandings can be consolidated from July 2017 and is now part of the SURTECO Group. SURTECO communicated details of the transaction in an ad-hoc release issued on 24 June 2017.

The Probos Group headquartered in Porto, Portugal, has a workforce of approximately 470 employees primarily specialized in the production of PVC plastic edgebandings. In 2016, the Group generated sales amounting to EUR 66.5 million and EBITDA of EUR 11.0 million. Thanks to the production locations of Probos in Brazil and Portugal, and other sales and processing locations, SURTECO will significantly strengthen its regional presence particularly in the strategically important markets of South and Central America. In future, SURTECO will also have greater opportunities to market its own products in these regions.

As already notified, the purchase price of EUR 99 million will be financed entirely through borrowings and the company will benefit from the current favourable environment for interest rates.

You will find additional information about SURTECO SE on the Internet at www.ir.surteco.com.

Contact:

SURTECO SE

Martin Miller
Investor Relations and Press Office
+ 49 (0) 8274/99 88-508

Internet www.ir.surteco.com
Email ir@SURTECO.com
Fax + 49 (0) 8274/99 88-515

Profile of SURTECO

SURTECO SE, Buttenwiesen-Pfaffenhofen, is a leading international specialist for surface technologies. The product portfolio includes papers printed with decorative designs, impregnated products, release papers, 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, technical extrusions for industry and do-it-yourself ranges and shutter systems.
The Group currently has a workforce of appr. 2,800 and manufactures at 23 sites on four continents, currently generating approximately 27 % of sales in Germany, 44 % in European countries outside Germany and the remainder in America, Asia and Australia. Customers of SURTECO generally come from the wood based materials, flooring and furnishing industry and the interior industry.
The shares of SURTECO SE 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, Düsseldorf, Stuttgart Hamburg and Hannover.

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.

07.07.2017 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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Language:	English
Company:	SURTECO SE
	Johan-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@surteco.com
Internet:	www.surteco.com
ISIN:	DE0005176903
WKN:	517 690
Listed:	Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange

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