Luxembourg, 19 October 2015.
Braas Monier closed on 16 October 2015 the acquisition of Golden Clay Industries Sdn Bhd (GCI), leader in Malaysia for manufacturing and supplying clay roof tiles and fittings and being one of only a few manufacturers in the Asia-Pacific region using modern H-cassette technology. Including substantial synergies, Management believes GCI will in the medium-term generate revenues of more than MYR 55 million and EBITDA of at least MYR 21 million, leading to a strong cash flow profile. The total Enterprise Value of GCI amounts to MYR 90 million including a potential Earn Out of MYR 16 million (discounted), equivalent to approximately EUR 19 million1.
GCI will be consolidated at 1 October 2015. Revenue and EBITDA contribution for the fourth quarter 2015 are expected to be approximately MYR 8 million and MYR 1.5 million, respectively.
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About Braas Monier
Braas Monier Building Group is a leading manufacturer and supplier of pitched roof products in Europe, parts of Asia and South Africa. The Group covers all steps of the manufacturing process, offering a comprehensive range of concrete and clay tiles for pitched roofs and is one of the few suppliers to also manufacture and sell complementary roofing components designed to cover various functional aspects of pitched roof construction. The portfolio also includes ceramic and steel chimneys and energy system solutions. Braas Monier had operations in 37 countries and 115 production facilities and employed around 7,600 people as at 30 June 2015. The Company is headquartered in Luxembourg.