Nordkalk becomes fully owned by Rettig
Rettig has today signed a share purchase agreement with the co-owners of Nordkalk. As a consequence, Rettig's ownership in Nordkalk increases from 49% to 100%. The transaction is subject to competition authorities' approval. Rettig has been a shareholder in Nordkalk since 2002. The agreement signed today follows the acquisitions made in 2006 and 2009 with which Rettig has increased its ownership. "Nordkalk forms a new leg for our operations and complements our ownership in the heating industry, shipping and real estate development. The different cycles of the business areas help to balance their effects on our businesses", comments Cyril von Rettig, Chairman of the Board. "Nordkalk will continue its operations on a stand-alone basis. As a family-owned company Rettig wants to be a long-term owner who develops the company together with its management", says Bjarne Mitts, President & CEO. Rettig is a group of Finnish family owned companies focusing on three core business areas: Rettig ICC (radiators for hydronic and electrical heating, indoor climate regulation), Bore (shipping) and Tarkala (real-estate development and rental). The net sales in 2009 amounted to EUR 572 million. Rettig employs 3,500 persons in 20 countries. There are 15 production plants in 11 countries. 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 materials industries as well as in environmental care and agriculture. The product brand is Nordkalk. The company's net sales for 2009 totalled EUR 277 million. Nordkalk employs some 1,200 people and has operations at more than 30 locations e.g. in Finland, Sweden, Norway, Poland, Estonia and Russia.