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[December 2002]
Finnish Investor Group to Become Nordkalk New Owner
NK-Holding Oy AB and Partek Corporation (part of KONE Corp) have signed an agreement by which NK-Holding will acquire 100% of the shares of Nordkalk Corporation from Partek. Nordkalk is the leading producer of limestone-based products in Europe.In accordance with the agreement, the debt-free enterprise value of the company is 270 million euro. After having deducted the capital loan and the net interest bearing debt, the estimated acquisition price for the shares is estimated to amount to approximately 140 million euro. The final purchase price will be defined based on the final financial statements of Nordkalk for the financial year 2002.
In 2001, Nordkalk's consolidated net sales amounted to 215.9 million euro and operating profit was 24.1 million euro. The company's January-September 2002 net sales rose to 186.9 million euro and operating profit went up to 26.1 million euro. Nordkalk employs about 1,300 people and has operations at 30 locations, including mines, quarries and units in countries such as Finland, Sweden, Poland and Estonia. It owns all mining rights at its mines and quarries.
ENDS