64/2009
The Management Board of Boryszew S.A. informs that it signed on December 30th, 2009 the conditional sale agreement of 100 % of shares of Przedsiębiorstwo Materiałów Izloacyjnych Izolacja – Matizol S.A. for the amount of PLN 18.5 m. The buyer of the block of shares of PMI Izolacja – Matizol S.A. is the company Selena FM S.A. with its seat in Wrocław.
Boryszew S.A. has bought the company PMI Izolacja – Matizol S.A. in 2003 with the book value of PLN 11.5 m. After acquisition of Izolacja Matizol S.A. the Boryszew Group has executed its restructuring and at present the company takes a firm second position on the domestic market of production of roofing papers and shingles. In the years 2007 – 2009 Izolacja – Matizol S.A. has paid off to Boryszew S.A. a dividend in the amount of PLN 12.3 m, enclosing PLN 6.3 m in the non-cash form (shares of Impexmetal S.A.).
The new investor declares further development of the company Izolacja – Matizol S.S., strengthen its position on the market, which is a good for the employees. At the same time the transaction strengthens the position of Boryszew S.A. , which could be of a good use in the future in the acquisition process.
The Selena Group is the holding of companies dealing with production and distribution of building chemical products, with the activity on the whole world and founded on the Polish capital.
The final sale agreement of shares of Izolacja – Matizol S.A. will be concluded, among others, after the positive decision of the Chairman of the Competition and Consumer Protection Office allowing to make concentration in the form of takeover the control over PIM Izolacja – Matizol S.A.
In both parties’ estimation, there are no risks to get a positive decision.
Signatures:
Małgorzata Iwanejko – Chairman of the Management Board