SIMONA Aktiengesellschaft: SIMONA takes over Norwegian supplier of aquaculture piping systems
June 04, 2020 at 12:35 pm EDT
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DGAP-Ad-hoc: SIMONA Aktiengesellschaft / Key word(s): Takeover/Investment
SIMONA Aktiengesellschaft: SIMONA takes over Norwegian supplier of aquaculture piping systems
04-Jun-2020 / 18:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Kirn, 4 June 2020. The SIMONA Group is to acquire a 75 per cent interest in Stadpipe AS, Stadlandet, Norway. Stadpipe has established a strong market position when it comes to planning, producing and installing piping systems used in the aquaculture industry. The company has around 50 employees at its two sites in Norway. Its customers mainly consist of project planners and end-users in the fields of aquaculture, oil and gas, and industry. The product range primarily encompasses pipes, fittings, pre-manufactured components and tanks made of polyethylene (PE). Stadpipe is an owner-run company managed by the Sjåstad brothers.
SIMONA sees the rapidly growing global market for equipment used by fish farms as a core segment that the plastics processing company can serve both with products for tank systems and pipelines.
The acquisition offers SIMONA access to project planning companies and end consumers in the fish farming and fishing industry and opens up opportunities in this global growth market. Stadpipe's product range complements and extends SIMONA's existing portfolio of pipes and fittings.
04-Jun-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
SIMONA Aktiengesellschaft
Teichweg 16
55606 Kirn an der Nahe
Germany
Phone:
06752-14-997
Fax:
06752-14-738
E-mail:
eric.schoenel@simona.de
Internet:
www.simona.de
ISIN:
DE0007239402
WKN:
723940
Listed:
Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Stuttgart
Simona AG is a Germany-based company that develops, manufactures, and markets a range of semi-finished thermoplastics, pipes, and fittings as well as finished parts and profiles The Company offers technical solutions centered around industry and infrastructure. The production methods applied within this area range from extrusion, pressing, and injection molding to CNC manufacturing. The product range includes sheets, twin-wall sheets, welding rods, three-dimensional (3D) printing filaments, pipes, fittings, flanges, valves, solid rods, hollow rods, u-profiles, and square parts. Its products are used within the area of chemical tank and equipment construction, mechanical engineering, and the transport industry, among others. Pipes and fittings are used primarily for drinking water supply, sewage disposal, and industrial piping systems, including the chemical process industry. Its finished parts are destined for the mechanical engineering and transport technology sectors.
SIMONA AKTIENGESELLSCHAFT 
