EQS-News: STEICO SE: EU competition authority approves the acquisition of a majority stake in STEICO SE by Kingspan Group PLC.
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EQS-News: STEICO SE
/ Key word(s): Miscellaneous
STEICO SE: EU competition authority approves the acquisition of a majority stake in STEICO SE by Kingspan Group PLC. Feldkirchen near Munich, 17 November 2023 - STEICO SE was informed today by Kingspan Group PLC that it has received approval from the competition authorities for the acquisition of a majority stake in STEICO SE. On 17 July 2023, Schramek GmbH, as the majority shareholder of STEICO SE, informed that it had signed an agreement to sell 51.0% of STEICO shares to the Kingspan Group. With the approval now granted, the transaction is expected to complete in early January 2024. Company Profile The STEICO Group develops, produces and markets ecological construction products made of renewable raw materials. STEICO is the European market leader in the wood-fibre insulation materials segment. STEICO is positioned as a system provider for ecological residential construction and is the only manufacturer in the industry to offer an integrated wooden construction system in which insulation material and construction components supplement each other. Laminated veneer lumber and I-joists form the structural components of the system. Insulation materials include flexible and stable wood fiber insulation panels, composite thermal insulation systems, insulation panels with a reinforcing effect, as well as cavity wall insulation made of wood fibers and cellulose. Sealing products for the building shell round off the overall system. The STEICO Group offers its customers a unique range of products up to the prefabrication of complete building components for wood element construction. The Munich-based company’s products are used in new construction and when renovating roofs, walls, ceilings, floors and facades. STEICO’s products allow the construction of future-proof, healthy buildings with a particularly high quality of living and a healthy atmosphere. STEICO’s products offer reliable protection against cold, heat and also noise, and they permanently improve the building’s energy efficiency. The Munich-based company’s products are used in new construction and when renovating roofs, walls, ceilings, floors and facades. STEICO’s products allow the construction of future-proof, healthy buildings with a particularly high quality of living and a healthy atmosphere. STEICO’s products offer reliable protection against cold, heat and also noise, and they permanently improve the building’s energy efficiency.
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17.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | STEICO SE |
| Otto-Lilienthal-Ring 30 | |
| 85622 Feldkirchen | |
| Germany | |
| Phone: | +49 - (0)89 - 99 15 51 - 0 |
| Fax: | +49 - (0)89 - 99 15 51 - 700 |
| E-mail: | info@steico.com |
| Internet: | http://www.steico.com |
| ISIN: | DE000A0LR936 |
| WKN: | A0LR93 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange |
| EQS News ID: | 1776571 |
| End of News | EQS News Service |
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1776571 17.11.2023 CET/CEST
Steico SE Stock
Steico SE is currently one of the favorites of our community with 6 Buy predictions and no Sell predictions.
With a target price of 41 € there is a slightly positive potential of 14.21% for Steico SE compared to the current price of 35.9 €.
