Mar 3 2009
Tarkett, world leader in innovative and sustainable flooring and sports surfacing, has reached an agreement with the Etex Group on the sale of Fademac, an Etex Group affiliate. With a turnover of approximately €28m, Fademac, the leading resilient flooring provider in Brazil, will become an active part of Tarkett’s strategy to develop the Group’s commercial and residential activities in Brazil and South America.
The acquisition strengthens Tarkett’s international presence with an industrial base near Sao Paulo and a distribution network across Brazil. Fademac has a production facility manufacturing over 4million m2 of vinyl flooring including VCT and heterogeneous used in healthcare, education, office, retail and transport projects throughout South America. Fademac, which has 219 employees in Brazil, has been a distributor for Tarkett for the past five years, selling Tarkett commercial products manufactured in Europe.
Michel Giannuzzi, Tarkett Chief Executive Officer commented, “The acquisition of Fademac, Brazil’s leading resilient provider, strengthens Tarkett’s growth strategy in this region with a local manufacturing presence and distribution to South America.”
Philippe Coens, Etex Chief Executive Officer commented, “Resilient floorings is no longer part of Etex’s core activities. We are happy that Fademac, which we developed to become market leader in Brazil, can now join a group with a global leading position in this market. We would like to thank Fademac’s management and employees for their valuable contribution and wish them a very bright future in this new environment.”