L'Herbergement, France, April 3rd, 2008, 6:00 p.m. VM Matériaux is continuing with its development, announcing a 70% stake acquired in the Bestkind group based in Hong Kong and Xiamen in the Fujian region.
The Bestkind group trades in natural stone for interior and exterior use. It employs 30 people and in 2007 achieved sales of $7.5 million.
This operation means that VM Materiaux, which has had a representative office in Shenzhen for three years now, will be able to develop sourcing activities in a very high-growth sector and it will open the way for new international markets.
For Bestkind, whose current directors will maintain their executive responsibilities, this operation will help to develop considerable synergy with the VM MATERIAUX group's businesses, offering significant growth prospects.
The acquisition became effective as of April 1st, 2008 for the companies located in Hong Kong and will also take effect for the company San Xiang Da, located in Xiamen, after approval from the Chinese authorities.
The operation was carried out on the advice of Sodica Asia Ltd (Credit Agricole Group).
About VM Matériaux
VM Matériaux works in the Building industry, centred on three areas of business:
Building material trading (74% of turnover managed): distribution of materials for the building and public works sector, with a network of 112 specialised agencies (incl. 19 overseas), offering locally-based advice to industry professionals and DIY customers;
the Concrete industry (13%): industrial pre-cast and ready-mix concrete;
Industrial joinery (13%): a full range of fittings for outside use (PVC, aluminium or wooden windows, roller shutters, front doors) and industrial frames.
The Group was originally based in the Vendée region but is now multi-regional. It employs 2.800 people and is developing its business over Western France and in the overseas departments. The Group achieved a turnover of ¤596.5 mn in 2007.
VM Matériaux is quoted on Euronext Paris, Compartment B. Index: SBF 250, CAC Mid & Small 190
Codes: ISIN FR0000066540, Reuters VMMP.NT, Bloomberg VMM.FP, Mnemonic: VMMA
|VM MATERIAUX||ACTUS FINANCE & COMMUNICATION|
|Philippe AUDUREAU - Chairman of the board of directors
Alain MARION - Financial and General Manager
Tel.: +33 (0)251 08 08 08
Tel.: +33 (0)153 67 35 74
Eva DAVEAU - Group Communication Manager
Tel.: +33 (0)251 08 08 08
Tel.: +33 (0)153 67 35 79
Communiqués au titre de l'obligation d'information permanente : Activité de l'émetteur (acquisitions, cessions...)
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