ROCKWOOL Group acquires remaining shares in Swiss stone wool producer Flumroc AG

17 November 2017

Acquisition creates new opportunities to expand position in Swiss insulation market.

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The acquisition builds on the productive and successful relationship that has existed between the two companies since ROCKWOOL acquired a minority stake in Flumroc’s shares in 1969 as part of technology licensing agreement. Since then, ROCKWOOL has obtained 43.5 percent of Flumroc shares.

Based in Flums, Switzerland, privately-held Flumroc employs about 230 people and is present in all regions of the country. With annual revenue of approximately CHF 67 million, Flumroc’s sales are primarily in Switzerland, with limited exports to France and Italy.

ROCKWOOL and Flumroc share strong commitments to outstanding quality, excellent customer service, environmental responsibility, and highly efficient manufacturing processes. ROCKWOOL Group CEO Jens Birgersson comments, “Our two companies have been close partners for almost 50 years.  We look forward to working even more closely with our skilled colleagues who have been part of the strong Flumroc team and to further strengthening the Flumroc brand in Switzerland”.

Vice Chairman of the Flumroc Board of Directors, Philip Baumgartner elaborates, “With the forthcoming generational change in the founding family, we are grateful to have found a good solution with ROCKWOOL to ensure long-term growth and prosperity for Flumroc”.

The share purchase agreement takes immediate effect upon signature today, 17 November 2017. As agreed between the parties, the purchase price will not be disclosed.

About the ROCKWOOL Group

At the ROCKWOOL Group, we are committed to enriching the lives of everyone who experiences our product solutions. Our expertise is perfectly suited to tackle many of today’s biggest sustainability and development challenges, from energy consumption and noise pollution to fire resilience, water scarcity and flooding. Our product range reflects the diversity of the world’s needs, while supporting our stakeholders in reducing their own carbon footprint.

Stone wool is a versatile material and forms the basis of all our businesses. With approx. 10,500 passionate colleagues in 38 countries, we are the world leader in stone wool solutions, from building insulation to acoustic ceilings, external cladding systems to horticultural solutions, engineered fibres for industrial use to insulation for the process industry and marine & offshore.

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