Heijmans and Unilin wrap up takeover of Opstalan (NL)

Heijmans N.V. (property development, construction and infrastructure) and Unilin systems B.V. (chipboard materials and roofing elements) have reached a definitive agreement about Unilin's takeover of Opstalan Holding B.V. as of 1 April 2005.

The takeover price will be paid in cash. Opstalan generated revenues of over € 38 million in 2004 with positive earnings before interest and taxes of € 2 million. The takeover will have no impact on the employment of Opstalan's 183 staff.

Opstalan develops, produces and sells insulating roofing systems. The company has been part of Heijmans since 2001 when it was taken over as part of the Royal IBC B.V. takeover. At the publication of its annual figures for 2003, Heijmans indicated that it was reconsidering the strategic relevance of its production activities. Heijmans does not consider the Opstalan activities to be strategic to its operations. The sale substantiates Heijmans strategic focus on full service construction and development activities.

Opstalan (with its holdings Cevotrans and IBC Timmerfabriek) will become part of the Construction Systems division of the Unilin Group, in particular Unilin Systems N.V. Unilin Systems is the European market leader in prefabricated roofing elements.

Unilin Systems N.V. already has production companies in France, Belgium and the Netherlands. After Unilin Multipré BV in Nieuwerkerk a/d Ijssel, producer of prefab roof timbers, Opstalan BV in Oisterwijk will provide Unilin Systems N.V. with a significant production facility in the Netherlands and as such will strengthen its market position. Unilin Systems expects the takeover to generate synergy between the activities in the division.

Source: Heijmans

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