Degussa Acquires Woermann Betonchemie including its foreign subsidiaries

17.03.2003

Dusseldorf (ots) - Degussa AG, Dusseldorf, is acquiring the admixtures business of Schwenk Zement KG, Ulm. An agreement to this effect was signed on March 14, 2003. The agreement involves the acquisition of the activities of Woermann Betonchemie, a Schwenk Zement KG company, including its foreign subsidiaries Woermann Polska s.p.z. o.o, Cracow, Poland, and Woermann Bohemia s.r.o., Usti nad Ladem, the Czech Republic. The parties have agreed not to disclose the purchase price. The acquisition remains subject to the approval of the antitrust authorities.

Degussa's Construction Chemical Division, into which the operations of Woermann Betonchemie will be integrated, is a global market and technology leader. The division is divided into the two product-oriented segments of Admixture Systems and Construction Systems, generating sales of 1.8 billion euros in fiscal 2002 and operating profits (EBIT) of 192 million euros.

In strategic terms overall, the acquisition of the Woermann operations into the Admixture Systems Europe Business Unit strengthens Construction Chemicals as an important core business area of Degussa: With the acquisition Degussa's Construction Chemicals is extending its leading position in the concrete admixtures business in North and South America, Japan and the non-German countries of Europe to now include Germany. It should also provide an ideal complement to the existing sales network in eastern Europe, thereby greatly improving the chances of seizing market opportunities in this region.

https://www.chemie.de/news/21501/degussa-acquires-woermann-betonchemie-including-its-foreign-subsidiaries.html