07/16/2019 / 12:10 CET/CEST
Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014
16 July 2019, Hungen – ROY Ceramics SE (WKN RYSE88, ISIN DE000RYSE888) has today entered into an agreement to acquire all shares in Klingenberg Dekoramik GmbH.
Klingenberg Dekoramik GmbH
ROY Ceramics SE (WKN RYSE88, ISIN DE000RYSE888) today signed an agreement to purchase all shares in Klingenberg Dekoramik GmbH from Gruppo Ceramiche Ricchetti SpA. Klingenberg Dekoramik GmbH is one of the leading German manufacturers of unglazed ceramic floor tiles, with a focus on contract tiles. Klingenberg Dekoramik GmbH currently serves the domestic German market with a share of over 70%, providing support to wholesalers and installers, as well as contract processing for architects, planners and bulk buyers. A share of approx. 30% is currently accounted for by export sales, with a focus on the USA and Australia. Klingenberg Dekoramik GmbH achieved annual sales of approximately 12.5 million euros in 2018. The purchase price of one euro is symbolic and the parties have agreed not to disclose the main terms of the purchase. ROY plans to provide liquidity of approximately 1.7 million euros as working capital and to repay liabilities. ROY Ceramics SE intends to cooperate with Gruppo Ceramiche Ricchetti SpA in the future.
ROY Ceramics SE sees the purchase of Klingenberg Dekoramik GmbH as an essential part of the strategy to reactivate the activities in the Ceramics Division.