Bauwerk Group AG
Bauwerk Parkett AG and Boen AS merge to form Bauwerk Boen Group
Bauwerk Parkett AG / Key word(s): Merger Press release Bauwerk Parkett AG and Boen AS merge to form Bauwerk Boen Group Two of Europe's leading manufacturers of parquet flooring, Bauwerk Parkett AG from Switzerland and Boen AS from Norway, are merging to form Bauwerk Boen Group. The new group will be Europe's leading provider in the premium segment and the second-largest player in the wood flooring market with combined sales of around CHF 275 million (EUR 230 million). The expansion of the complementary market positions of the two brands will strengthen the competitiveness of the group and provide customers with a wider range of high quality wood flooring products. St. Margrethen/Kristiansand, March 21, 2013 – Bauwerk Parkett AG ('Bauwerk') from St. Margrethen/Switzerland and Boen AS ('Boen') from Kristiansand/Norway are merging under the name Bauwerk Boen Group. The new group will be headquartered in Zurich/Switzerland and will be run by an executive management team made up by 7 members from the two former management teams and headed by the former Bauwerk CEO Klaus Brammertz. Thorleif Hals, CEO of Boen, will be Head of Integration and Deputy CEO. In the last financial year the two companies produced a combined volume of more than 8 million square meters of wooden floor coverings, employed some 1,400 people and generated sales of around CHF 275 million (EUR 230 million). Once the transaction has been completed, the current owners of Boen and Bauwerk, the Johan G. Olsen Group, Zurmont Madison and EGS Beteiligungen AG, will each hold around one-third of the new group.
Complementary companies with well established brands
Continuation of growth strategies Klaus Brammertz, CEO of Bauwerk, said: 'With the merger of these two complementary companies the offering for our customers will be even more attractive and we get access to additional markets.' And Thorleif Hals, CEO of Boen, commented: 'I have not in my 30 years of international experience seen such a merger between two of the strongest players in a market segment with so many upsides.'
Bauwerk Parkett AG:
BOEN AS:
Media Office Zurmont Madison/EGS Beteiligungen:
Johan G. Olsen Group:
End of Corporate News 21.03.2013 This press release was distributed by EQS CORPORATE COMMUNICATIONS. www.eqs.com – news archive: www.eqs.com/ch/presskit The issuer is responsible for the contents of the release. |
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