Germany-based Surteco SE, a manufacturer of plastic/paper surface materials for the construction and furniture industry, plans to take over all the shareholding of Süddekor Group, including companies operating in Germany, the US and Russia. The acquisition will be financed by Surteco through a capital increase against cash contributions with subscription rights for existing shareholders; the latter will also use available cash and cash equivalents.

A purchase contract for this acquisition has recently been concluded, which is subject to standard conditions and requires approval by the responsible merger control authorities.

“The takeover of Süddekor will propel us to a leading position in the decorative printing sector. Since our group sales will also increase to some EUR650 million and we perceive common potential effects, the takeover represents an important step towards fulfilling the long-term strategy of profitable growth,” said Friedhelm Päfgen, Chairman of the Board of Management of Surteco.

Surteco says it will use the takeover of Süddekor to significantly strengthen its market presence in the area of paper-based surface coatings, with particular emphasis on the markets for decorative papers and finish foils. The acquisition will also serve to expand the product portfolio.

Surteco had sales of EUR407.7 million in 2012 and approximately 2,000 employees, while Süddekor’s sales in 2012 were EUR239.1 million and it had approximately 770 employees.