sia Abrasives has taken another strategic step into the future. On 22 November 2002, the publicly listed Swiss company signed a contract for the 100-percent takeover of the Coated Abrasives Products Company (CAPCO) in the USA. The deal will become effective as of 1 January 2003.
The Coated Abrasives Products Company (CAPCO) is a conversion and distribution company for coated abrasives that is well established on the US market. Completion of the acquisition and integration into the sia Group is scheduled for 1 January 2003. This takeover sees sia Abrasives following its declared strategy of expansion and – as promised – strengthening its position in the important growth market of the USA. CAPCO is based in the states of Minnesota and Louisiana and achieves annual sales of some CHF 9 million with a workforce of 43.
For further information
Peter A. Schifferle, CEO
Gerhard Mahrle, CFO
Phone: +41 52 724 45 75
Fax: +41 52 724 45 70
E-mail: ir@sia-abrasives.com
Internet: http://www.sia-abrasives.com/
® Correct nomenclature for sia Abrasives Holding AG
As there are other companies and organizations that use the same abbreviation as our company, we would be grateful if you could help to avoid any misunderstandings by always writing our name as follows: sia Abrasives (never just sia by itself). |
