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Tessenderlo agrees to buy German BT Bautechnik.


9 September 2011 - Belgian speciality chemicals company Tessenderlo Chemie (EBR:TESB) on Friday said it had agreed to buy German plastic pipe fittings maker BT Bautechnik Group, comprising BT Impex GmbH and BTH Fitting KFT.

Financial terms were not disclosed.

The transaction is part of Tessenderlo Chemiea[euro](tm)s strategy to boost its storm water management portfolio and increase its presence in central and eastern Europe, the buyer said in a press release.

Completion is pending regulatory clearance in Germany.

BT employs 125 and had revenues of some EUR20m (USD27.5m) last year.The company, a supplier of Tessenderlo Chemie, said in a statement it expected to grow as part of the group.Country: , GermanySector: Machinery/EngineeringTarget: BT Impex GmbH, BTH Fitting KFT Buyer: Tessenderlo Chemie NVType: Corporate acquisitionStatus: Agreed

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Publication:M & A Navigator
Date:Sep 9, 2011
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