AI assistant
Tarkett — M&A Activity 2019
Feb 19, 2019
1691_iss_2019-02-19_810317b9-00bd-4d11-97bc-b5bd06d2b4c2.pdf
M&A Activity
Open in viewerOpens in your device viewer
Press Release
____________
Tarkett Group
Tarkett and Sonae Arauco announced the intention to close LaminatePark plant in Germany
PARIS - LA DEFENSE, FEBRUARY 19, 2019 – Tarkett and Sonae Arauco announced the intention to cease the operations of their joint venture LaminatePark GmbH & Co. KG., by closing its Eiweiler plant in Germany by the end of 2019.
LaminatePark was founded in 2006 and employs 230 people. The company produces fiberboards and laminate floorings for the German and international market.
This company operates in a very competitive market environment strongly impacted by declining volumes in Western Europe, resulting in a decrease in the sales volume of LaminatePark since 2007 and especially in 2018. This adverse business environment has led to an underutilization of LaminatePark manufacturing capacity, thus dramatically impacting the site's profitability. The decision was made in the light of there being no reasonable prospects for a material recovery in its financial profitability in the medium term.
LaminatePark will handle the situation responsibly, both for its employees and customers. The company aims to cooperate closely with the Economic Committee and the Works Council in order to ensure that all employees are fairly treated.
About Tarkett
With 135 years of history, Tarkett is a worldwide leader of innovative flooring and sports surface solutions. Consolidated net sales reached €2.8billion in 2018. Offering a wide range of products including vinyl, linoleum, carpet, rubber, wood, laminate, synthetic turf and running tracks, the Group serves customers in more than 100 countries worldwide. With 13,000 employees and 35 industrial sites, Tarkett sells 1.3 million square meters of flooring every day, for hospitals, schools, housing, hotels, offices, stores and sports fields. Committed to "Doing Good. Together.", the Group has implemented an eco-innovation strategy based on Cradle to Cradle® principles and promotes circular economy, with the ultimate goal of contributing to people's health and wellbeing, and preserving the natural capital. Tarkett is listed on Euronext Paris (compartment A, ISIN: FR0004188670, ticker TKTT) and is included in the following indices: SBF 120, CAC Mid 60. www.tarkett.com
Investor Relations Contacts
Tarkett - Catherine David (assistant to Investor Relations Director) [email protected]
Media Contacts
Tarkett Group - Véronique Bouchard Bienaymé - [email protected] Brunswick - [email protected] - Tel. : +33 (0) 1 53 96 83 83