DGAP-News: NORMA Group AG / Key word(s): Acquisition/Mergers & Acquisitions NORMA Group acquires joining technology distribution business from Variant in Poland (with additional features)
21.05.2013 / 09:25
NORMA Group acquires joining technology distribution business from Variant in Poland
Maintal, Germany, 21 May 2013 – NORMA Group, a global market and technology leader for engineered joining technology, signed a purchase agreement on 17 May, 2013 to acquire the distribution business for joining technology of Variant SA (‘Variant’) in Poland. The parties agreed to maintain confidentiality on the transaction details. The transaction is expected to be closed soon.
The Krakow, Poland-based Variant sells joining products and cable ties, and has been a distribution partner of NORMA Group for more than 20 years. The products are sold to over 1,000 retailers and wholesalers across Poland. End clients include home improvement stores, garages and specialist retailers for automotive supplies. In financial year 2012, Variant’s joining technology business generated revenues of around EUR 5 million. It will be consolidated as part of NORMA Group effective immediately.
By taking over Variant’s joining technology business, NORMA Group is strengthening its market position in the Eastern European region and expanding its cable tie offering. NORMA Group has been in Poland since 1989 and has been operating a production facility in Pilica since 2000. A new distribution centre has been established in Moscow, Russia last year.
‘We will gain an experienced distribution team in Poland and look forward to expanding both our product offering in cable ties and our client base in Eastern Europe,’ says Werner Deggim, CEO of NORMA Group. ‘We intend to leverage Variant’s long-standing expertise to further build our distribution activities across Eastern Europe. This will enable us to service our clients in this European high-growth region even better.’
Additional information on the company is available on www.normagroup.com. Press photos are available from our platform on www.normagroup.com/presspictures.
Contact
NORMA Group AG Daphne Recker Media Relations E-Mail: daphne.recker@normagroup.com Tel.: +49 (0)6181 – 6102 743
