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ots Ad hoc-Service: BALDA AG
Balda AG takes over Kendrion-Heinze
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Bad Oeynhausen (ots Ad hoc-Service) - Balda AG, the Bad Oeynhausen-based company which is listed on the Neuer Markt, is taking over 100% of the shares in Kendrion-Heinze GmbH, Herford, from the Dutch company Schuttersveld N.V. The date of the takeover and consolidation of Kendrion-Heinze, a plastics processor, is July 1. The share of the purchase price to be borne by Balda amounts to DM 28 million. The remaining price for acquisition of Kendrion-Heinze will be borne by the Fennel Group, Bad Oeynhausen. The parties have agreed to keep the purchase price a secret. The acquisition is a strategically important step towards expanding the production capacity and strengthening the competitive position as a manufacturer of cellular-phone casings for the worldwide mobile telephony industry.
Kendrion-Heinze anticipates sales of around DM 74 million for the year 2000, approximately at the same level as the previous year. The cellular-telephone supplier Balda intends to take over only the telecommunications division of Kendrion-Heinze, which, at around DM 40 million, is forecast to be the mainstay of sales in the year 2000. The non-telecommunications divisions of automobile, heating/sanitation as well as technical building services and installations were sold on immediately to the Fennel Group in Bad Oeynhausen. The takeover of these divisions, with combined sales of around DM 34 million, will enable Fennel to considerably strengthen its strategic position in the relevant markets.
Kendrion-Heinze expects a positive pre-tax result for the year 2000 in the telecom area with a profit-sales ratio of 10%, Balda will benefit above all from its around 430 newly acquired employees who are especially skilled in the processing of plastics and who will work predominantly in the cellular- telephone area. This extensively solves any capacity-related problems concerning the planned growth in 2001. A further important gain for Balda is Kendrion-Heinze's additional electroplating capacity. Balda's own electroplating facility, at its subsidiary SMK, is presently operating at full capacity and is still able to meet only 60% of demand. A further valuable asset is the facilities for the vapour deposition of metallic surfaces on plastic components. Balda is underlining the position as an international leader in the single-source supply of all plastics processing technologies. Special significance is Balda's winning of two new and renowned Kendrion-Heinze customers from the telecommunications industry: NEC Europe and the French Sagem Group. Kendrion-Heinze, like Balda AG, is also a supplier to Nokia and Siemens. Gerhard Holdijk, chairman of the managing board at Balda will manage Kendrion-Heinze alongside the present managing director Frank-Ingo Krämer.
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