12 December 2007

Oranjewoud and TenCate to take over Edel Grass

Oranjewoud and TenCate Thiolon have signed a letter of intent (LOI) in respect of the takeover of Edel Grass, Genemuiden (The Netherlands). The transaction is expected to be concluded after the usual approval procedures and a final study at the beginning of 2008.

Edel Grass is a leading supplier of synthetic turf systems, primarily for hockey, tennis and football, mainly on the Dutch, Scandinavian, German, East European and African markets. The company has been involved in this market since the early years of the development of synthetic turf.

TenCate is market leader in the field of synthetic turf fibres and carpet backing for sports pitches and landscaping. TenCate has previously indicated that it is seeking to achieve close cooperation with companies that supply total solutions with synthetic turf systems. The cooperation in this joint venture between Edel Grass, Oranjewoud and TenCate fits in with this ambition to carry out qualitative improvements using system solutions.

TenCate aspires to achieve the safe practice of sports under the best possible circumstances. Apart from strategic alliances through share participations, TenCate endeavours to link up with associates that are able to play a major role in this quality concept.

A commercial relationship has existed between Edel Grass and TenCate for many years relating to the supply of synthetic turf fibres and carpet backing as well as the completion of major synthetic turf projects. In this way Edel Grass and TenCate are involved in key projects in the Netherlands, such as those for AFC Ajax, Heracles Almelo and FC Zwolle.

Oranjewoud is one of the leading players in the Netherlands in the implementation of synthetic turf sports projects, in which the company aims to adopt a concept approach that will impact positively on the entire operation of the sports facility.

Oranjewoud will provide Edel Grass with significant operational support, which will have a positive influence on the company’s further development and growth.

The combination of the companies’ know-how and the complementary character of the partners will produce a player of outstanding quality on the synthetic turf market with an extensive field of knowledge. This is considered necessary to be able to accelerate the introduction of further qualitative improvements to the practice of sports on synthetic turf, especially in the field of football.

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