Sumitomo Bakelite Co., Ltd.
Products | Company Outline | To Stockholders&Investors | Environmental Report | Topics
TOPICS

August 7, 2002
SUMITOMO BAKELITE CO., LTD.

Acquisition of Phenolic Resin Business Spain

Sumitomo Bakelite Co., Ltd. (Head office: Shinagawa, Tokyo. President: Tsuneo Moriya) is acquiring Fers Resin SA and its group companies.
Fers is in the business of phenolic resins and has friction resins as a main application.
The purpose of this acquisition is to expand the global business of our phenolic resins which is our core business, particularly for friction application.
Fers is growing its business under the total demand in EU is sluggish. We have a plant in Belgium for phenolic resins but the size is small and we can expect synergies in raw material purchase, manufacturing, logistics etc. by this addition of Fers into our group.


Outline of acquisition

  1. Business to be acquired
    (1) Target
    Fers Resin SA (Head office: Barcelona, Spain) All shares
    Fenocast SA (Head office and plant: Barcelona, Spain) All shares
    (Fers is a marketing and sales company. Fenocast is a manufacturing company)
    And the shares of 3 affiliated companies.
    (2) Business
    Manufacturing and sales of phenolic resins mainly used for friction materials (Components of automotive brakes and clutches), refractoris etc. and also manufacturing and sales of other materials used for the same applications.
    (3) Sales amount
    Increase of consolidated sales by this acquisition.
    28 Million Euro (About 3.8 Billion Yen, Result FY 2002)
    31 Million Euro (About 4.2 Billion Yen, Result FY 2003 outlook)
    (4) Numbers of employees
    About 80 people (At the end of 2002)
  2. Condition of acquisition
    (1) Purchase price
    Not disclosable by the agreement
    (2) Closing
    August 7th, 2003
    (3) Structure of acquisition
    Share purchase by Durez Spain SL (To be changed to Fers Europe SL after closing) organized as a subsidiary of our Belgium subsidiary, s.a. Durez Europe n.v.
    (4) Future management
    To be managed by our expatriates (President;Takeshi””Uchimura) and the current management


Contact
Sumitomo Bakelite Co., Ltd.
General Affairs Dept., Public Relations
Tel: +81-3-5462-3433
Fax: +81-3-5462-4873


Return to Topics

Copyright (C) 2002 SUMITOMO BAKELITE Co., Ltd.