Dansk Eternit Holding A/S - a member of the FLS Group - is to take over 53.1% of the shares of the Polish fibre cement company IZOPOL S.A., which will make it the second largest manufacturer and distributor of fibre cement products in Europe.
The purchase of the shares is taking place in connection with the privatisation of IZOPOL - formerly owned by the Polish state - and is subject to the approval of the authorities.
IZOPOL is Poland's largest fibre cement manufacturer and is situated in Trzemeszno, northeast of Poznan in the western part of the country. It is an ideal location for serving the Polish home market and also offers prospects for further expansion into other European markets.
Eighteen months ago the company converted its factory into asbestos-free production of roofing materials and carried out a renovation of buildings and production equipment. Today, IZOPOL employs some 150 persons and has a turnover of about DKK 50 million.
Already eight years ago, Dansk Eternit Holding entered the East European market, investing in two fibre cement factories in the Czech Republic. The new acquisition in Poland, together with the two existing facilities in the Czech Republic, provides a strong platform for pursuing present and future market opportunities in Central and Eastern Europe, while adding to the Group's overall competitive strength.
With the acquisition of IZOPOL, the Dansk Eternit Holding Group - which produces and sells fibre cement products, accessories and clay roofing tiles - now has factories in Poland, the Czech Republic, Finland and Denmark and sales companies in Great Britain, Holland, France and Germany.
FLS Industries A/S
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