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Kendrion N.V. — M&A Activity 2008
May 15, 2008
3857_iss_2008-05-14_1a58685a-5ebe-49e5-9358-ccb030c32636.pdf
M&A Activity
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PRESS RELEASE
KENDRION N.V.
14 MAY 2008
Vink Group sells distribution business in UK and Ireland to Robert Horne Group
As per 14 May 2008, Vink has agreed to sell its plastic distribution business in UK and Ireland to Robert Horne Group Ltd in UK and Robert Horne Paper Ltd in Ireland. The business in the UK and Ireland had a turnover of approximately EUR 9 million in 2007 with in total 25 employees and is loss making.
The divestment of the business in the UK and Ireland is the result of the strategy of the Vink Group to have a leading position in the major European countries and to focus on market growth and supply chain optimisation between the countries.
Vink UK and Vink Ireland do not have the critical mass to optimise the local supply chain and to benefit from the supply chain strength of the Vink Group in continental Europe.
The sale of the business in the UK and Ireland will lead to a one time book loss of EUR 0.6 million in 2008.
Robert Horne is the leading paper merchant in UK and Ireland. The acquisition of the business and assets of Vink UK and Ireland will widen their product portfolio and further strengthen their leading market position in particularly the Sign and Graphics market.
Profile of Kendrion N.V.
Kendrion N.V. develops, manufactures, and markets high-quality electromagnetic components and also distributes and processes semi-finished plastics. The company has more than 2,500 employees in 18 countries around the world.
Kendrion's mission is to build on its strong positions of leadership in its selected niche markets in Europe and be a leading international company that uses its existing know-how, innovative capabilities and commercial strengths to provide effective solutions to its industrial customers. In doing so Kendrion seeks to remain a transparent, flexible and reliable company where entrepreneurial zeal is combined with clear profit targets.
Kendrion's shares are listed on NYSE Euronext's Amsterdam market.
Zeist, 14 May 2008
Executive Board of Kendrion N.V.
For more information, please contact:
Kendrion N.V. Mr P. Veenema Utrechtseweg 33 3704 HA ZEIST Netherlands Tel: +31 - 30 - 699.72.68 Fax: +31 - 30 - 695.11.65 www.kendrion.com