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Sioen Industries Group Acquires the PVC Coating Activities of Glen Raven Group

sioenARDOOIE, BELGIUM -- Sioen Industries has reached an agreement with the Glen Raven group for the acquisition of its PVC coating activities, an activity considered to be non-core for the Glen Raven Group as they focus on technical textiles for home improvement and living spaces.

The PVC coating activities are situated both in France (production unit) and the USA (Sales office). It is the intention to continue to develop in close partnership sun-protection fabrics, outdoor textiles, and PVC free coated fabrics. This acquisition will strengthen the position of both companies in the market of PVC coated technical fabrics (transport, industry, environment, tensile structures, solar protection, tents, and inkjet printing). This activity represents approximately 38 million Euro of sales with an EBITDA* of approximately 2.9 million Euro. Sioen agreed to pay a consideration in cash for 100% of the shares, of both companies, of 21 million Euro.

Contact:
Sioen Industries NV
Fabriekstraat 23
8850 Ardooie, Belgium
www.sioen.com

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