Tessenderlo Group announced that it agreed to acquire the production plant of REHAU Tube in La Chapelle-Saint-Ursin (Cher) from the German REHAU Group.
In September 2019, REHAU Group announced that it would close its manufacturing plant near Bourges at the beginning of the second quarter of 2020. The plant specializes in the manufacturing of sewer, soil & waste, storm water management and telecom pipes and fittings.
Under the terms of the agreement, Tessenderlo Group will take over the real estate, production assets, stocks and it will retain 75 employees in sales and operations, all linked to the wastewater and cable ducting business.
The acquisition,which is expected to be completed by May 1, 2020, is subject to the fulfilment of a number of customary conditions precedent, such as the finalizing of the required legal and financial documentation.
“This strategically important acquisition will further strengthen the position of DYKA on the French market for wastewater plastic pipe systems, as our activities in France play an important role in the future plans of the DYKA Group business unit. Having a second site in France will enable DYKA to realize growth in sewer and drainage pipes, while at the same time ensuring an improved service to the market in the South of France,” explained Gabriël Spruijt, Executive Vice President of BU DYKA Group.
After completion of the acquisition, Tessenderlo Group intends to integrate the REHAU Tube business within the DYKA Group business unit, which provides high quality, value-added solutions in plastic pipe systems for the utilities, agricultural, building and civil engineering markets. Marketing and sales activities for the business will be taken over with effect from March 1, 2020.
“I am very pleased that Tessenderlo Group and DYKA Group take over our Bourges plant. DYKA Group is an important European player in polymer pipes and fittings that shares the same human values as the REHAU Group. This acquisition will make it possible for us to offer continued employment to 75 employees and to economically revitalize employment in the area. DYKA Group’s choice makes me very confident for the future,” said Francis Guaitoli, CEO of REHAU Tube. DYKA Group is already active on the French market with DYKA France, which has a production plant in Sainte-Austreberthe.
The transaction has no material impact on the results of Tessenderlo Group
