Exel Oyj Strategic acquisition in pultrusion: Pacific Composites

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Exel Oyj Strategic acquisition in pultrusion: Pacific Composites. 27.2.2006. Company profile Pacific Composites’ factories Technology & markets Profiles & applications Pacific Composites’ financials Impact on Exel’s financials Impact on Exel’s operations. Content of the presentation. - PowerPoint PPT Presentation

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  • Exel OyjStrategic acquisition in pultrusion: Pacific Composites 27.2.2006

  • Content of the presentationCompany profilePacific Composites factories Technology & marketsProfiles & applicationsPacific Composites financials Impact on Exels financialsImpact on Exels operations

  • 1. Company profileLargest pultruder in Australia, Pacific and UKPioneer in pultrusion in Australia, est. on the 1960s, a subsidiary of the publicly listed Lemarne Corporation LimitedOffices & manufacturing sitesAustralia, in Melbourne and BrisbaneUK, in Runcorn and Clacton, through acquisition of Fibreforce Composites Ltd, the largest pultruder in UK, in 1992 China, in Nanjing, started in 2005

  • 2. Exel offices and sitesMntyharju

    KivaraVoerde, Germany

    Oudenaarde, Belgium

    Dsseldorf, Germany

    Munguia, SpainBekaert subcontractingVantaa

    Sales officeSales office and production unitShenzhen, China, 2006

    Pite, SwedenRohrdorf, Germany

    Kapfenberg, Austria

  • 2. Pacific Composites sites

  • 3.Technology & marketsTechnology base: pultrusion process and prepreg mouldingMain business areas/marketsAerospace & MilitaryTransportationTelecommunication Building & Construction MiningMarineWind Energy

  • 4. Profiles & applications (examples)Conduit rods used in telecomCable laddersHandrailsComponents used in wind bladesTelescopic tubingAntenna radomesSpecialised piping/tubes

  • Profiles & Applications

  • Profiles & Applications

  • Profiles & Applications

  • 5. Pacific Composites financialsNet sales from July 2004 to June 2005 were EUR 19.8 millionNet sales from July 2005 to December 2005 were EUR 12.0 million, up 25% from H2/2004Profit before taxes 2004/2005 was EUR 1.8 million, profit before taxes H2/2005 was EUR 1.4 million150 employees The price of the acquisition is EUR 17.5 million in cash plus 230 thousand new Exel shares for the value of EUR 2.8 million (authorization given in AGM 2005)

  • 6. Impact on Exels financialsPreliminary pro forma figures 2005 Net sales 2005 EUR 114 millionEBT 2005 EUR 14.5 million12.7% of net salesPacific Composites operations will be joined into Exel Group as of 1st March 2006Expected EBIT impact of EUR 3.0 million on Exel Group level after the restructuring process in 2006In the long run in line with Exels normal growth and profitability targets

  • 7. Impact on Exels business operationsMajor strategic step to expand Exels operations in Asian market and to serve our customers on a world-wide basisThe investment project of building an own factory in Shenzhen is now postponedExels core business in future will be its present Industry Division with high composite technology, i.e. fibreglass and carbon-reinforced applications and profilesExel now being an undisputable global market leader in pultrusion technology Better possibilities to continue with the consolidation process in the pultrusion market