15 November 2010 – TenCate has entered into an agreement to purchase the geosynthetics activities of Emas Kiara Industries Berhad, a publicly listed company based in Rawang, Malaysia. This transaction will provide TenCate Geosynthetics with a significantly larger position in the supply of geosynthetics solutions to the Southeast Asian markets. The purchase is expected to be finalized in early 2011.
Emas Kiara Industries is an important full-line producer and supplier of a wide range of geosynthetic products and solutions with primary focus on the Asian markets. This addition of the Emas Kiara production capabilities, employees, and product brands will significantly strengthen the position of TenCate Geosynthetics activities in this rapidly growing region of the world. In combination with the existing production activities of TenCate Geosynthetics in Malaysia and China, and the existing pan-Asian market activities, TenCate will clearly have a leading market position in this region. As a result of this transaction, TenCate doubles the revenue of geosynthetics in this region.
Wally Moore, Global Group Director at TenCate Geosynthetics: “Emas Kiara Industries has done an excellent job of developing their geosynthetic activities in Asia, and we are pleased to combine our efforts to provide unmatched capabilities and solutions to this important market. This strengthening of our market position is integral part of the Asia strategy of TenCate.”
No financial details will be provided with regards to the transaction.
In addition to the continuation of other non-geosynthetic related business, Emas Kiara Industries will maintain their construction and installation activities with exclusive product supply support from TenCate Geosynthetics.
About TenCate
TenCate Geosynthetics develops and produces synthetics fabrics, non-wovens and grids, and designs solutions and systems for infrastructure and civil engineering. TenCate Geosynthetics has plants in Europe, North America and Asia.
Royal Ten Cate (TenCate) is a multinational company which combines textile technology with related chemical processes and material technology in the development and production of functional materials with distinctive characteristics. Products of TenCate are sold worldwide. Systems and materials from TenCate come under four areas of application: safety & protection, space & aerospace, infrastructure & the environment, and sport & recreation. TenCate occupies leading positions in protective fabrics, composites for space and aerospace, antiballistics, geosynthetics and synthetic turf. TenCate is listed on the NYSE Euronext (AMX).
Contact
Drs. F.R. Spaan, director investor relations & corporate development +31 (0)546 544 338
Mobile: +31 (0)6 12 96 17 24
f.spaan@tencate.com
www.tencate.com
