Rettig increases its shareholding in Nordkalk
Rettig has today signed a share purchase agreement with funds managed by CapMan, which means that Rettig’s ownership in Norkalk will increase from 1.9% to 21%. The transaction is subject to competition authority approval. “Nordkalk is an attractive industrial company with growth potential in the East.
Rettig wants to be involved and develop the company with a long-term perspective together with the other majority shareholders”, says Bjarne Mitts, President & CEO. “The investment in Nordkalk complements well our ownership in the heating industry, shipping activities and real estate development”, comments Cyril von Rettig, Chairman of the Board.
Rettig Group is a Finnish family owned industrial group focusing on three core business areas: Rettig ICC (hydronic and electrical heating, indoor climate regulation), Bore (shipping) and Tarkala (real estate development and rental). In 2005 the turnover amounted to EUR 600 million and the number of personnel is 4,000. Nordkalk is the leading producer of high quality limestone-based products in Northern Europe. The products are used mainly in the paper, steel and building material industries as well as in environmental care and agriculture. The product brand is Nordkalk. The company’s net sales for 2005 totalled EUR 269.6 million and profit before extraordinary items amounted to EUR 13.9 million. Nordkalk employs some 1,350 people and has operations at more than 30 locations e.g. in Finland, Sweden, Poland, Estonia and Russia. Nordkalk´s current quicklime production capacity is 1.1 million tons annually. Nordkalk is owned by a Finnish investor group which comprises Ahlström Capital Oy, the funds managed by CapMan and a group of mainly institutional investors.