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Press release: VEDAG joins the ICOPAL Group
Two leading providers of waterproofing solutions join forces.
Icopal, the world leader in waterproofing solutions and building
protection, headquartered in Copenhagen, Denmark, today announced
the acquisition of VEDAG Group, headquartered in Frankfurt, Germany.
Two strong brands renowned for customer focus and quality products.
The VEDAG and ICOPAL organizations will continue to serve their
respective established customer bases independently. Both brands
are highly respected in the marketplace for their focus on reliability,
technical innovation and service excellence, and offer complementary
product ranges.
By joining forces the two groups intend to increase their common
potential for expansion in the new and fast growing markets of Central
and Eastern Europe and China.
"After building up a new spirit in VEDAG we have been looking for
additional alternatives for the further development of our business.
Joining the Icopal Group is clearly the best option for VEDAG and
will strengthen us when facing the challenges in the near future.
Our dedicated team together with our more than 160 year old history
makes a ’perfect match’ with Icopal, the world’s leading Group in
the Waterproofing Market says Georg Graf von Khevenhüller-Metsch"
“I am very pleased and proud that VEDAG with its highly regarded
workforce and its prestigious track record has accepted to become
part of our Group. By joining forces we will further increase our
ability to provide our customers with the best products and solutions
money can buy. This transaction is another significant step in our
Group's growth strategy, with the aim of being an increasingly resourceful
and reliable long term partner for our customers”, says Martin Ellis,
Group CEO, Icopal.
The transaction is subject to approval of the German Merger Control
Authorities.
For further information please contact Mr. Martin H. Ellis, tel.
+45 5123 5509 or
Mr. Georg Graf von Khevenhüller-Metsch, tel. +49 69 4084 290
VEDAG profile
VEDAG includes both top and standard roofing and waterproofing solutions
and materials for road construction (Polymer Modified Bitumen) in
its business portfolio. The production sites of VEDAG in Bamberg
(Bavaria) and Philippsburg (near Karlsruhe) in Germany and VEDAG's
production in the Czech Republic will be maintained, complementing
present Icopal production facilities in Werne (near Dortmund) and
Saarwellingen (Saarland).Outside Germany the VEDAG Group has widespread
activities in European countries like UK, Slovakia, Czech Republic,
Poland and Bulgaria and as well in the Chinese market. VEDAG has
a turnover of around 140 M€ and employs some
350 people.
For further information please visit www.vedag.com
Icopal profile
Icopal is the world’s leader in waterproofing solutions and building
protections. The activities include supplying bitumen membranes
for roofing, waterproofing and civil engineering and being the leading
roof and metal contractor in the Nordic countries.
Icopal has a turnover of more than 1.1 Bill€ and employs some 4.200
people
(including VEDAG). Icopal operates worldwide and has 35 manufacturing
sites and
91 offices in Europe, North America and Asia.
Icopal is owned by Investcorp.
For further information please visit www.icopal.com
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