Following the press release of November 15, 2010, Ten Cate Geosynthetics Asia announces the successful closing of the acquisition of the geosynthetics activities of Emas Kiara Industries Berhad, a publicly listed company based in Rawang, Malaysia. The completion of this transaction provides TenCate Geosynthetics with a significantly larger position in the supply of geosynthetics solutions to the Southeast Asian markets.
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 strengthen the position of TenCate Geosynthetics activities in this rapidly growing region of the world.
These activities are concentrated on the rapidly growing environmental, infrastructure and water management applications in the region. One example of the succesfull business lines is the TenCate Geotube® for coast protection, land reclamation and environmental dewatering projects for cleaning harbours, rivers etc.
Wally Moore, global group director TenCate Geosynthetics says: ‘In combination with the existing production activities of TenCate Geosynthetics in Malaysia and China, and the existing pan-Asian market activities, TenCate is expanding its leading market position. As a result of this acquisition, TenCate substantially increases the revenues of geosynthetics in this region’.
In addition to continuing other non-geosynthetic related business, Emas Kiara maintains their geosynthetic construction and installation activities with exclusive product supply support from TenCate. In this way Emas Kiara and TenCate combine their efforts and will be a strong solutions driven combination.
The acquisition provides an immediate accretive benefit to the earnings of TenCate in 2011. The acquisition is financed through the credit facilities of TenCate.
Royal Ten Cate
Almelo, the Netherlands, Friday 18 March 2011