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Please find below all Forbo media releases listed by year.
Eglisau, November 6, 2001
The Forbo Group is in final negotiations with the owners of Spanish adhesives producer Carzuh for a 100 percent company takeover. The intention is to finalize the transaction in July.
With annual sales of CHF 25 million, Carzuh is one of the leading Spanish adhesives manufacturers supplying the Spanish industry with high-quality products. Among the company's key customers are suppliers of the automotive industry as well as the furniture and wood industries.
The adhesives activities with net sales of CHF 206 million in the business year 2000 are a core business of Forbo which shall be expanded by targeted acquisitions, in addition to organic growth. The takeover of Carzuh is a first step in the implementation of this part of the strategy.
With Carzuh, Forbo enters the Spanish market for industrial adhesives in fields of applications and customers where the Group already today has strong positions in other countries.
Striving for higher profits
As a result of the slow-down of the economy, sales were below expectations in the first five months. The results of the first half-year will presumably be below the last year's comparable figures. However, for the full year Forbo still expects a higher operating profit compared to the previous year.
**Detailed half-year results will be announced at the end of July*3
Forbo is a global manufacturer of floor coverings and industrial specialties. It employs some 6 000 people worldwide and has an international network of 28 production companies in 12 countries and 70 marketing organizations in 26 countries.
Head of Corporate Communications
Tel: + 41 1 868 25 69
Fax: + 41 1 868 35 69
Chief Financial Officer
Tel: + 41 1 868 25 25
Fax: + 41 1 868 25 26