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Eglisau, August 25, 2000
Forbo Helmitin GmbH of Pirmasens, Germany, a subsidiary of the Forbo Group, will sell its plastics profile business as per 01.09.2000 to aluplast GmbH in Karlsruhe, Germany. This step marks the complete withdrawal of the Forbo Group from this field of activity. With this move, Forbo will drive the implementation of its new corporate strategy forward by focussing on the four core business units linoleum, vinyls, belting and adhesives. Forbo Helmitin will concentrate its future activities exclusively on the adhesives business.
aluplast GmbH, a leading manufacturer of plastic window profiles, will take over the profile business of Forbo Helmitin GmbH, including a total of 103 jobs, effective 01.09.2000. The business recorded 1999 sales of DM 39 million (CHF 31 million). Forbo Helmitin will focus its future activities on adhesives. With this move the Forbo Group exits the plastic window profile business and drives the implementation of its new corporate strategy forward.
Along the lines of its strategy, i.e. focusing on the core products linoleum, vinyls, belting and adhesives, Forbo has been actively seeking a partner or buyer for its profile business in the past 12 months. With aluplast a buyer has now been found who belongs to the leading plastic window profile manufacturers and is pursuing a growth strategy. aluplast will continue to serve the current customers and will use the available production capacities, saving the existing jobs.
aluplast with production subsidiaries in Ettlingen, Poland, Austria and soon in Moscow and a European wide distribution network has today more than 500 employees and will record sales of approximately DM 250 mio excluding the new acquisition.
The companies agreed to keep the modalities of the transaction in confidence.