Acquisition of Vedasil Brasil

RNS Number : 0215B

Tyman PLC

26 February 2014

 



TYMAN PLC

ACQUISITION OF VEDASIL BRASIL

Tyman plc ("Tyman"), a leading international supplier of components to the door and window industry, announces that its international division, Schlegel International, has today completed the acquisition of Vedasil Brasil ("Vedasil"), the market leader in the manufacture and supply of pile weather-seals in Brazil.

Established in 1978, Vedasil has grown to be one of South America's leading providers of pile weather seals.  In addition, Vedasil manufactures and supplies PVC extruded seals under the Eco-PDM brand and other seal and screen components to the Brazilian door and window market.  In 2013, Vedasil reported revenues of approximately BR19 million.  In 2012, Schlegel America do Sul ("Schlegel Brazil"), Tyman's existing Brazilian business, reported revenues of approximately BR5 million.

Vedasil is based near Valinhos, 90 km from Sao Paulo where Schlegel Brazil is located.  Schlegel International intends to integrate the two businesses at the Valinhos site, under the Schlegel brand, with a management team drawn from both businesses.

The combination of the two businesses will bring Schlegel International significantly increased opportunities in Brazil and across South America, as well as the advantages of local manufacturing. 

Commenting on the acquisition, Louis Eperjesi, Chief Executive of Tyman, said:

"I am delighted to welcome the Vedasil team to Schlegel International and look forward to working with them to grow the market for our range of sealing technologies and other door and window components in the region.

"The acquisition is an important element of our strategic plan to deliver consistent growth for Tyman, wherever we are located, and opens up new opportunities to develop the Schlegel International business across South America."

26 February 2014

Enquiries:
Tyman plc	020 7976 8000
Louis Eperjesi - Chief Executive Officer	www.tymanplc.com
James Brotherton - Chief Financial Officer
MHP	020 3128 8100
Reg Hoare
Jamie Ricketts
Nick Hayns

Tyman will announce results for the year ended 31 December 2013 on Tuesday 11
March 2014.

 

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