GERMANY – Surteco SE, manufacturer of surface materials based on plastics and technical papers for the international construction and furniture industry, announced on October 23rd the take over of all the shares in the companies of the Suddekor Group, one of its main competitors.

The Surteco Group (sales for 2012: € 407.7 million; approximately 2,000 employees) will significantly strengthen its market presence in paper-based products for surface coatings with the takeover of the Suddekor Group (sales for 2012: around € 240 million; approximately 770 employees). The Suddekor takeover adds a production capacity of 50,000 tons/p.a. of décor paper, a 180 Mio. m²/p.a. capacity of finish foil and impregnation capacity 340 million m²/p.a. The Suddekor Group operates through out its different locations 12 printing lines, 12 impregnation lines and 5 digital printers.

This takeover involves the companies Suddekor GmbH in Laichingen, Dakor Melamin Impragnierungen GmbH in Heroldstatt, Suddekor Art Design + Engraving GmbH, Willich, Suddekor LLC, Agawam, USA, Suddekor Management Inc. Agawam, USA and Suddekor OOO in Moscow, Russia. The purchase is subject to approval by the responsible merger control authorities and finance for the acquisition is to come from existing liquidity and capital increase.

“The takeover of Süddekor will propel us to a leading position in the decorative printing sector. Sinceour group sales will also increase to some €650 million and we perceive common potential effects, the takeover represents an important step towards fulfilling the long-term strategy of profitable growth”, commented Friedhelm Päfgen, Chairman of the Board of Management of Surteco SE.

Dr. Steffen Griffel, from the Süddekor management stated, “With Surteco SE, a strong partner has been found as a buyer for the Süddekor Group. We are convinced that this constellation represents a stable, innovative and strategically viable solution for the company and also for the employees.”