SURTECO AG takes over australian sales partner Consolidated Edgings

SURTECO AG, listed in the Prime Standard, is taking over its long-standing Australian sales partner Consolidated Edgings in Sydney under an asset deal. The sales company for specialist in surface technologies SURTECO supplies the Australian wood-materials and furnishing industry with paper-based and plastic-based edging strips and achieved sales of six million euros in the fiscal year 2004/2005. SURTECO AG is the leading global supplier in this specialized market segment.

Acquisition of Consolidated Edgings improves the position of SURTECO AG in the Australian market, where the company is already achieving excellent performance through Group companies Doellken-A.S.L and BauschLinnemann Australia. SURTECO is expecting more efficient market coverage from the acquisition, as well as other synergies in sales.

With the takeover of Consolidated Edgings, SURTECO AG is continuing its drive to strengthen its foreign activities. In view of the difficult economic situation in the domestic construction and furnishing industry, foreign markets are increasing in importance for the company. In autumn of last year, SURTECO AG had already taken over Canadian Canplast Group and hence further optimized its market presence in North America. In 2004, SURTECO AG was already generating 61 % of total sales amounting to 380.4 million euros (+ 7 %) abroad.