Masterplast Nyrt. and Hartmut Layer entered into a binding agreement to acquire a plant in Aschersleben of LHB GmbH & Co. Beschichtungs KG.
March 11, 2020
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Masterplast Nyrt. (BUSE:MASTERPLAST) concluded a preliminary agreement to acquire a plant in Aschersleben of LHB GmbH & Co. Beschichtungs KG on March 12, 2020. On May 20, 2020, Masterplast Nyrt. and Hartmut Layer entered into a binding agreement to acquire the plant. Masterplast Nyrt. and Hartmut Layer will acquire 50% stake each in the plant. The agreement covers the transfer of rights and liabilities, including especially – but not exclusively – the immovable property, the stock, the contracts of customers and suppliers, the production line and rights related to some intellectual products, such as to trademarks. The transaction is expected to be completed before April. As of June 5, 2020, the transaction is expected to be completed on July 1, 2020.
Masterplast Nyrt is a Hungary-based company active in construction sector. The company is a producer and distributor of construction industry products. Its product portfolio includes facade insulation systems and components, roofing underlay and roofing accessories, bituminous corrugated sheets and shingles, thermal-sound and water insulation materials, dry construction elements, as well as plaster profiles and accessories, polypropylene foils and bags and foam tapes. It has two production plants, based in Kal, Hungary and Subotica, Serbia.The Company sells its products domesticaly and exports it to Estonia, France, Greece, the Netherlands, Italy, Latvia, Lithuania, the Russian Federation, Sloveania and Turkey.