MND : MND finalizes Snownet acquisition (Sufag/Areco) and becomes No. 2 worldwide in snowmaking systems
On 23 October, the MND Group (FR0011584549, MND), which specializes in innovative mountain development and urban transport solutions, was admitted for trading on the C Compartment of NYSE Euronext's regulated market in Paris.
After the resounding success of its IPO, and in accordance with the commitments announced at that time, MND is now confirming the finalization of its purchase of Snownet, an Austrian-Swedish group that consists of two companies, Sufag and Areco.
These two internationally reputed brands are a perfect complement to the technology assets owned by MND and its subsidiary, Snowstar, and will considerably extend the Group's geographical footprint. MND now boasts the most cutting-edge range of technology on the market, and is set to gain access to new markets, primarily in Scandinavia and German-speaking areas.
The acquisition makes MND the second largest operator in a market worth around €200 million a year, according to company estimates.
MND Chairman Xavier Gallot-Lavallée made the following comments: "With Snownet under our belt, we are now in a commanding position to provide cutting-edge technical and economical solutions in one of the biggest areas of expenditure for ski resorts. We will continue to implement measures to ensure that this company achieves its full potential in terms of performance. Our snowmaking solutions offering, which is highly complementary in terms of its range and geographical coverage, is now comprehensive, and should enable us to gain further market share.
The MND Group has been based at Sainte-Hélène-du-Lac (Savoie), in the very heart of the French Alps, since 2004. MND is one of the few market players to offer a global range of products and services dedicated to the development, equipping and protection of ski resorts, leisure areas and other mountain infrastructure.
Buoyed by its industrial expertise in the mountain cable transport market and by innovative technology protected by worldwide patents, the MND Group has strong growth potential in the urban cable public transport sector, where it offers an unobtrusive alternative mode of urban transport.
With four manufacturing plants in Europe (France, Germany and Sweden), eight international distribution subsidiaries and 50 distributors worldwide, the MND Group has 264 employees and around 3,000 customers spread across 49 countries.
For the 2012/2013 financial year ended 31 March, the MND Group reported pro forma revenues of €58 million, 65% of which were generated abroad.
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