IVC has reached an agreement with Balta Industries
IVC has reached an agreement with Balta Inudstries on the acquisition of 100% of the shares of Trinterio, manufacturer of laminate flooring and MDF products, with production facilities in Vielsalm, and offices in Sint-Baafs-Vijve.
Balta Inudstries had previously purchased the 50% of trinterio which it did not already own from Ackermans & Van Haaren.
This acquisition takes place concurrently with an agreement between Unilin n.v., a division of Mohawk Inudstries, and Ackermans & Van Haaren, on the acuqisition of 100% of the shares of Spanogroup (with Span in Oostrozebeke and Dekaply in Erembodegem). The transactions must still be approved by the relevant competition authorities.
In 2012, Trinterio has achieved a turnover of 180 million Euros through the Balterio Laminate Flooring Division and Spanolux, a producer of MDF panels. The company has 375 employees.
Filip Balcaen, main shareholder and Executive Chairman of the IVC Group: 'Balterio and Spanolux are complementary to our current activities. They will further strengthen IVC's position as a player in the hard floor coverings. It is their intention to commit additional investment to further increase their competitiveness'.
Jan Vergote, CEO of the IVC Group: 'Balterio & Spanolux will become independent divisions within the IVC Group. They are looking foward to the synergies in the field of R&D for the development of a new generation of hard floors and MDF-base products'.
With 1200 employees, the IVC Group, with branches in Belgium, Luxembourg, the United States and Russia, aims at consolidated turnover of 530 million Euros in 110 countries in 2013.