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| The new transaction will provide TenCate Geosynthetics with a significantly larger position in market |
TenCate will strengthen its position in the Asian geosynthetics market along with Emas Kiara Industries, a full-line producer and supplier of various geosynthetic products and solutions.
TenCate has entered into an agreement to purchase the geosynthetics activities of Emas Kiara Industries Berhad, a publicly listed company based in Rawang, Malaysia. This transaction will provide TenCate Geosynthetics with a significantly larger position in the supply of geosynthetics solutions to the Southeast Asian markets. The purchase is expected to be finalized in early 2011.
Emas Kiara Industries is an important full-line producer and supplier of a wide range of geosynthetic products and solutions with primary focus on the Asian markets. This addition of the Emas Kiara production capabilities, employees, and product brands will significantly strengthen the position of TenCate Geosynthetics activities in this rapidly growing region of the world. In combination with the existing production activities of TenCate Geosynthetics in Malaysia and China, and the existing pan-Asian market activities, TenCate will clearly have a leading market position in this region. As a result of this transaction, TenCate doubles the revenue of geosynthetics in this region.
Wally Moore, Global Group Director at TenCate Geosynthetics: "Emas Kiara Industries has done an excellent job of developing their geosynthetic activities in Asia, and we are pleased to combine our efforts to provide unmatched capabilities and solutions to this important market. This strengthening of our market position is integral part of the Asia strategy of TenCate."
No financial details will be provided with regards to the transaction. In addition to the continuation of other non-geosynthetic related business, Emas Kiara Industries will maintain their construction and installation activities with exclusive product supply support from TenCate Geosynthetics.
