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Netherlands-based
industrial firm purchases Formica businesses in North America, Europe, and Asia
CINCINNATI (December 17,
2018) — Fletcher Building announced today the sale of Cincinnati-based Formica
Group to Broadview Industries, a Netherlands-based industrial firm with a
significant presence in high-pressure laminate and associated product lines.
The sale includes Formica businesses in North America, Europe, and Asia, as
well as its Homapal metal laminates business.
The announcement today reflects the signing of a Sale Purchase Agreement which
defines the main elements of the transaction and brings together two leading
companies in the international decorative surfacing industry. The transition is
expected to be finalized in the first half of 2019.
The Formica Group invented laminate in 1913 and remains a leading provider of
branded, designed surfacing solutions for commercial and residential customers
worldwide. Broadview Industries currently owns Trespa (the global leader in
exterior compact siding), Arpa (the largest HPL provider in Italy and developer
of the innovative Fenix product line), and Westag (German based HPL
manufacturer and a large-scale fabricator).
“This combination represents an exciting future for the Formica Group, as the
two businesses are complimentary with a strong strategic alignment. Formica
brings a global reach with its operational and commercial capabilities and
Broadview brings unique and innovative product technologies, including Trespa
exterior products and Fenix acrylic surfaces,” said Mitch Quint, President of
Formica Corporation North America. “We’re grateful to Fletcher Building for
investing in our business for 11 years and for finding a buyer in Broadview
Industries who echoes our commitment to product leadership, sales and
specification excellence, and industry-leading customer service.”
Based in ‘s-Hertogenbosch, the Netherlands, Broadview is a holding company that
pursues long-term growth and value creation through active support of its
operating companies. Broadview is controlled by HAL Holding N.V., an
international holding company with a history that dates back to 1873. Like HAL,
Broadview has a long-term perspective, and accordingly, an unrestricted holding
period. The current portfolio covers three industry clusters: material
technology, personal protective equipment and energy. With the
acquisition of the Formica Group, Broadview will become a global leader in
high-pressure laminate.