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11-03-2008

Tessenderlo takes over Nyloplast Europe

Tessenderlo Group, Brussels, Belgium, reached an agreement with Nyloplast NV to take over all shares of its subsidiary company Nyloplast Europe BV, ’s Gravendeel, Netherlands. The deal is subject to the approval of the Extraordinary General Assembly of Nyloplast NV, which is expected to be held before the end of November 2008.

The takeover amount is not disclosed.

Nyloplast Europe BV (’s Gravendeel) manufactures large-diameter plastic fittings for pressureless pipe systems for the European market. The systems are used for draining sewage and rain water. The company employs about one hundred people and has a 13.5 million EUR revenue.

Tessenderlo Group is an international chemicals company with more than 100 branches in 20 countries. Around 8,100 people work for the group, 2,100 of whom are located in Belgium and 560 in the Netherlands.

This acquisition is supposed to enable Tessenderlo to strengthen the position of its Plastic Pipe Systems Business Unit in Europe and to further develop its strategy for growth.

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