Børsens News Service in English
Rockwool acquires Asian insulation business
06-07-2010
09:44
Rockwool has entered into agreement to acquire CSR’s Asian stone wool insulation business for AUD 128 million or close to DKK 640 million which provides the Rockwool Group with the opportunity to further expand upon its existing platform in South East Asia and establish a bridgehead in China, the company wrote today in a stock exchange announcement.
The acquired insulation business operates three mineral wool factories located in China, Malaysia and Thailand, and the business also owns representation offices in the Philippines, Vietnam and Singapore.
»This is a major leap forward for the Rockwool Group in Asia. CSR’s insulation business in the region is a well peforming and well managed business which will fit perfectly into the Rockwool business scope,« said CEO Eelco van Heel.
Rockwool added that the market in the region is still small and mainly supported by requirements coming from foreign investments in infrastructure and buildings.
»We expect local regulations and construction habits to progress with higher requirements for energy efficient buildings and a demand for a high performing, sustainable and safe insulation material such as stone wool. We believe that competencies in the acquired CSR businesses combined with Rockwool expertise will, during the next decade, enable us to establish a strong market position,« said Eelco van Heel. Direkt/BNS
The acquired insulation business operates three mineral wool factories located in China, Malaysia and Thailand, and the business also owns representation offices in the Philippines, Vietnam and Singapore.
»This is a major leap forward for the Rockwool Group in Asia. CSR’s insulation business in the region is a well peforming and well managed business which will fit perfectly into the Rockwool business scope,« said CEO Eelco van Heel.
Rockwool added that the market in the region is still small and mainly supported by requirements coming from foreign investments in infrastructure and buildings.
»We expect local regulations and construction habits to progress with higher requirements for energy efficient buildings and a demand for a high performing, sustainable and safe insulation material such as stone wool. We believe that competencies in the acquired CSR businesses combined with Rockwool expertise will, during the next decade, enable us to establish a strong market position,« said Eelco van Heel. Direkt/BNS
*****||*****Rockwool acquires Asian insulation business*****||*****Rockwool has entered into agreement to acquire CSR’s Asian stone wool insulation business for AUD 128 million or close to DKK 640 million which provides the Rockwool Group with the opportunity to further expand upon its existing platform in South East Asia and establish a bridgehead in China, the company wrote today in a stock exchange announcement.*****||*****
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