ERGIS-EUROFILMS S.A. ACQUIRES 100% OF SHARES IN TWO GERMAN FILM MANUFACTURERS
ERGIS-EUROFILMS Group, a leader in plastics manufacturing sector of Central and Eastern Europe, has signed an agreement on the acquisition of 100% of shares in MKF-Folien – a company ranking second in terms of size in the German market of PET, PE and PVC rigid films, and 100% of shares in a manufacturer of PET, PE and PVC rigid films laminates, Schimanski GmbH. The value of transaction totalled at EUR 27.4 million. Both transactions will be finalised by the end of October 2007.
The acquisitions make another step toward the strategic goal set by ERGIS-EUROFILMS, that is the strengthening of its position as a leader in the region’s plastics manufacturing market.
MKF-Folien is one of the leading German manufacturers of APET, PE and PVC rigid films, primarily applied in food and technical sectors. The company’s production capacity is 20,000 tons of the APET films and 12,500 tons of the PVC film. Its revenue for 2006 amounted to EUR 39.8 million, and EBITDA was EUR 3.6 million. After the first half of 2007, these results were EUR 22.5 million and EUR 2.0 million, respectively.
Schimanski GmbH is a manufacturer of APET/PE and PVC/PE rigid films laminates, used mainly in the food industry, with an annual production capacity of approximately 18,000 tons. The company’s revenue for 2006 exceeded EUR 28.3 million, and EBITDA was EUR 2.8 million. After the first half of 2007, these results were EUR 13.5 million and EUR 1.4 million, respectively.
“Product offering of the companies we have acquired will perfectly supplement our own product range. Additionally, due to great customer bases of MKF-Folien and Schimanski we will be able to further strengthen our position on the German market,” says Tadeusz Nowicki, the CEO of ERGIS-EUROFILMS S.A. “We already are a leader in film production and plastics manufacturing in Central and Eastern Europe. These transactions will significantly contribute to reinforcing this position,” Nowicki added.
“We are extremely happy to join the ERGIS-EUROFILMS Group. We are looking forward to explore the opportunities for expansion in Central and Eastern Europe. We believe that both our companies will accelerate the growth of the enlarged group and will bring benefit to all our stakeholders” says Fabian Schimanski, Managing Director of Schimanski GmbH.
Additional information is available from:
phone: +48 0604 159 103, +48 0604 159 159
phone: +48 (22) 625 71 40, +48 0501 16 88 07
About ERGIS-EUROFILMS S.A.
ERGIS-EUROFILMS was created through this year’s merger of the listed Eurofilms and its trade investor, ERGIS
and is a Polish leader and one of the largest Central and Eastern Europe’ s manufacturers of plastics processing products.
The merged Company is Poland’s largest producer of flexible and rigid calendered PVC films, second largest producer of PE stretch films and a leading producer of PVC compounds , wall panels and window sills.
The Company’s offer includes insulation films for construction and garden ponds, films laminated with a layer of another film, paper, woven and non-woven fabric, etc.; printed films for office, furniture and decoration industries, packaging films (including films for packaging pharmaceuticals), bus floor covering, compounds for cable manufacturing, interior and exterior wall panels, window sills, expansion joint tapes, artificial leather, coated fabrics, tablecloth, as well as vinyl and paper wallcoverings.
At the same time the Company in addition to PE stretch films (tensile films, used e.g. for wrapping loads on pallets) produces PVC thermoshrink films (used e.g. for food packaging) and PET tapes (used for fastening medium heavy and heavy products and loads) as well as is a distributor of polypropylene BOPP film (used mainly for packaging manufacturing). The Company’s production capacity reaches 27 thousand tons per year for stretch film, 1.4 thousand tons for PVC thermoshrink film and 4.8 thousand tons for PET tapes.
Additional information is also available at www.ergis-eurofilms.eu.