CVC completes takeover of Asia Dekor
13 June 2008CVC Asia Pacific Ltd (CVC) has completed the acquisition of Asia Dekor Holdings Ltd, a company listed on the Singapore Stock Exchange. Asia Dekor is a leading manufacturer and distributor of laminate flooring, MDF and particleboard in China. Based in Shenzhen, it currently has 16 million m2 of laminate flooring production, 200,000m3 of MDF and 200,000m3 of particleboard production in Guangdong.
The transaction is a 100% buyout in China and represents an important add-on for Plantation Timber Products (PTP), an existing CVC company, strengthening PTP's market position in both panels and laminate flooring. CVC believes the combined entity has excellent growth prospects and that the merger will create significant synergies, given the complementary nature of the two businesses.
