TIDMSRC
RNS Number : 5719U
SigmaRoc PLC
07 April 2021
7 April 2021
(EPIC: SRC / Market: AIM / Sector: Construction Materials)
SIGMAROC PLC
( ' SigmaRoc ' , the 'Company' or the 'Group' )
Acquisition of Belgian concrete assets
Establishment of a second European heavy side construction
materials platform
SigmaRoc, the AIM quoted construction materials group, is
pleased to provide the following updates:
Acquisitions of B-Mix Beton and Casters Beton for a total
consideration of EUR13m:
In line with its stated strategy, the Group has completed the
acquisitions of B-Mix Beton NV, J&G Overslag en Kraanbedrijf BV
and TOP POMPING NV (collectively 'B-Mix'), as well as Casters Beton
NV ('Casters') from Groep Janssens N.V. for a combined cash
consideration of EUR13m (together, the 'Acquisitions'). B-Mix,
located in Tessenderloo, and Casters, located in Genk, operate four
concrete plants, producing around 250,000 cubic meters annually. In
addition, the B-Mix business includes quayside operations along the
Albert Canal which links the cities of Antwerp and Liege and the
rivers Scheldt and Meuse.
In total, the businesses generated a turnover of EUR22m, EBITDA
of EUR3.3m and a net profit of EUR1.5m in the year ended 31
December 2020, with net assets of EUR5.9m. The Acquisitions will be
immediately enhancing to the Group's underlying earnings and will
be funded from the net cash proceeds of Group's December 2020
equity fundraising.
Creation of New European Platforms:
Following the Acquisitions and the creation of the Granulats du
Hainaut ('GDH') aggregates brand, as announced on 26 March 2021,
SigmaRoc has decided to separate its European heavy-side materials
operations into two separate platforms.
Carrieres du Hainaut ('CDH') will continue as a Europe wide
dimension stone platform under Managing Director Christophe
Huyghebaert, turning over approximately EUR44m per year.
A new integrated concrete and construction aggregates platform
will be created to include GDH, Stone Holdings, B-Mix and Casters.
The new platform will be managed by Emmanuel Maes and Pascal
Lesoinne, with initial annual sales of around EUR36m per year.
SigmaRoc's combined annual turnover in Continental Europe will
therefore grow to approximately EUR80m per year.
Option to acquire 11ha of quayside industrial land:
Alongside the Acquisitions, SigmaRoc is also pleased to announce
it has entered into an option agreement (the 'Option') with JABO
N.V., granting it the right to acquire 11 hectares of quayside
industrial land in Tessenderloo, for a consideration of EUR9m. The
land subject to the Option includes approximately 260m of quayside
along the Albert Canal, one of the busiest national shipping lanes
in Belgium, which houses the B-Mix concrete business, as well as a
significant unutilised area.
Should the Option be exercised, SigmaRoc would continue to
utilise approximately 4 hectares for the B-Mix business and is
currently exploring opportunities to utilise the remaining land as
part of its strategy for further expansion in the Belgian market.
Should opportunities not be identified which meet the Group's
investment criteria, the sale or development of the excess land
would be considered.
David Barrett, Chairman of SigmaRoc, commented:
"The combination of B-Mix and Casters is a very attractive
opportunity. Located along key waterways the combined plants will
benefit from significant efficiencies. The Limburg province also
remains an attractive market for concrete with Antwerp and Liege on
either side. This is a significant further step in the evolution of
our operations in the Benelux market."
Max Vermorken, CEO of SigmaRoc, commented:
"We are making solid and rapid progress with our Benelux
footprint, adding attractive businesses to the two platforms we now
operate in that region. The expansion potential remains significant
with further additions to follow in due course."
Information on the Company is available on the Company's
website, www.sigmaroc.com .
SigmaRoc plc Tel: +44 (0) 207
Max Vermorken 002 1080
Strand Hanson Limited (Nominated and Financial Tel: +44(0) 207 409
Adviser) 3494
James Spinney / James Dance / Rob Patrick
Liberum Capital (Co-Broker) Tel: +44 (0) 203
Neil Patel / Jamie Richards / William Hall 100 2000
Peel Hunt (Co-Broker) Tel: +44 (0) 20 7418
Mike Bell / Ed Allsop 8900
Investor Relations Tel: +44 (0) 207
Florian Werner 002 1080
ir@sigmaroc.com
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Upon the
publication of this announcement via Regulatory Information
Service, this inside information is now considered to be in the
public domain.
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END
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