The H+H Group (“H+H”) represented by H+H Deutschland GmbH has made an agreement with
The acquisition is in line with H+H’s strategy to expand its activities within the German wall-building materials market and further consolidate and restructure the industry.
“We are pleased to announce another important step in our ongoing growth journey and the restructuring of the German white-stone market. H+H is taking over the factory of a dedicated player in the German aircrete industry with a geographical location that establishes a solid AAC footprint for H+H in the
Under the agreement, Seller will transfer ownership of the factory assets in an all-cash transaction. Customary asset registrations are to take place before closing of the deal, expectedly in
H+H intends to integrate the factory into H+H’s existing production platform. Consequently, production at the factory will be shut down for a period of 2021 while certain targeted upgrades and adjustments to the production facilities are being performed. Revenue from the factory in 2021 is therefore expected to be limited and the acquisition will not impact H+H’s financial expectations for 2021.
For further information please contact:
Peter Klovgaard-Jørgensen
Group CFO
+45 40 73 64 32
pkj@HplusH.com
H+H’s core activity is the manufacture and sale of wall-building materials, with a revenue in 2020 of
Attachment
- 20210914_Scheurebe_Press release_final
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