NASDAQ OMX Copenhagen A/S
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1007 Copenhagen K
Anouncement 18 / 2007 18. December 2007 CVR no. CVR no. 15701315

SP Group´s part of TPI Polytechniek bv increased

As of 1 January 2008 SP Group has increased its share of the subsidiary TPI Polytechniek bv from 70 % to 80 %. Seller is Managing Director Jeroen van der Heijden, who owns the remaining shares and who continues as the managing director of the subsidiary. The parties agreed not to announce the acquisition price, but the shares have been acquired at approximately 5.5 times the profit after tax in 2007 on a debt free basis. The shares will be paid in cash.

TPI Polytechniek bv is one of the leading producers in Europe of ventilation equipment in polyurethane for poultry and pig houses as well as industrial buildings. In recent years the company has experienced a growing demand and by the end of third quarter 2007 the turnover amounted to approximately DKK 43m, i. e. a growth of 21 % compared to the year before.

TPI Polytechniek bv is situated in ’s-Hertogenbosch in Holland. A subsidiary in Denmark is handling the sales to customers in Scandinavia. Further the company has sales representatives and agents on a number of markets. The main production takes place in the production facilities of SP Group in Poland. The most important products under own brands are ventilation grids and chimneys and air inlets. PUR (polyurethane) is suitable for these purposes as it is light, insulating and water-resistant, and as it does not develop condensed water at large temperature fluctuations.

The acquisition of the shares is part of SP Group’s efforts to get a more clear structure in the group and to reduce the minorities when relevant.

The acquisition is expected to strengthen SP Group’s earnings after minorities in 2008.

For further information please contact CEO Frank Gad.
 

Best regards  
   
Niels K. Agner
Chairman
Frank Gad
Chief Executive Officer

 

 

Incase of any discrepancies, the Danish version shall prevail.

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