Sale of the Feyco Treffert Group and Schekolin AG to leading Finnish coatings manufacturer Teknos
Arbon (ots) - Arbon, 11 April 2017 - Looser Holding AG is selling the Feyco Treffert Group and Schekolin AG with the plant in Bendern (FL) to the Finnish Teknos Group. The internationally operating family company with its head office in Helsinki (FIN) ranks among the leading manufacturers of industrial coatings, architectural coatings and decorative paints. For Looser Holding, this transaction constitutes a key step in the sales process of its Coatings Group. The contract was signed on 10 April 2017. Closing will probably take place at the beginning of May 2017.
The sale covers the companies of Feyco AG, St. Margrethen (CH), and Treffert Coatings GmbH with its head office in Alzenau (D) together with their subsidiaries in China, Malaysia and the USA. Teknos is also acquiring the Schekolin AG company with the associated production plant in Bendern (FL), which in the future primarily produces wood paints and wood coatings for the Feyco Treffert Group and is also producing packaging coatings at the moment.
Teknos is one of the leading European suppliers of industrial coatings with a strong position in the retail trade and architectural coatings. The group has 1300 employees and a presence in 18 countries with production facilities, subsidiaries and sales companies. Teknos was founded in 1948 and is one of Finland's biggest family-owned companies.
The new owner has excellent knowledge of the international coatings market and is intending to further expand and strengthen the Feyco Treffert Group's business. The two companies complement each other in geographical terms and in respect of their product ranges. The Feyco Treffert Group is benefiting from the know-how and will be able to further strengthen its market position - including in the field of window and facade products. Teknos, for its part, is deriving advantages primarily from the addition of products for interiors to its range, from synergies and from the Feyco Treffert Group's extensive know-how and market presence. While Teknos operates chiefly in Scandinavia, Eastern Europe and Russia, the Feyco Treffert Group mainly works the markets in Western Europe, Asia, USA and South America. Teknos will benefit especially from the Feyco Treffert Group's leading market position in Switzerland, where the new owner has not been active to date.
The employment contracts of the employees are being taken over. The parties to the contract have agreed not to disclose the selling price.
Looser Holding AG recently successfully completed the sale of the packaging coatings business of Schekolin AG. On 27 February 2017, Siegwerk Druckfarben AG & Co. KGaA in Siegburg near Cologne (D) acquired the «Plastic Tubes & Laminates» (PTL - polyethylene and laminate tubes) product range. On 31 March 2017, Salchi Metalcoat S.r.l. in Burago di Molgora (I) acquired the product ranges of «Metal Sheets» (MES - metal packagings for tin cans and seam protection), «Aluminium Tubes & Monoblocs» (ATM - aluminium tubes and aerosol cans) and «Complex Objects» (COB - spray coatings for perfume, cosmetics and beverage packagings in plastic, glass and metal). The sales process for the Industrielack Group (Ilag) is being continued. Arbonia and Looser are confident that they will soon have completed this sale successfully too, and will attain the sales targets for the entire Coatings Division.
Further information about Arbonia can be found on the website: www.arbonia.com
Delegate of the Board of Directors of Looser
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Head of Corporate Communications of Arbonia
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