The HIRSCH Servo Group is expanding into Slovakia and currently acquiring Polyform s.r.o, a TOP 3 company for the manufacture of EPS insulating materials in Podolínec/Northeast Slovakia.
“High energy prices have led to sustained strong demand for insulating materials and Polyform is therefore an important addition to our production network for EPS processing in Central, Eastern and Southeastern Europe. In addition to the facility at headquarters in Austria, our main division also operates three plants in Hungary, two in Poland and shortly one in Romania,” says director Peter Grabuschnig explaining the strategic importance of the acquisition.
Production company Polyform has been on the market since 1993 and holds a 20 percent market share in Slovakia. Designed for annual sales of EUR 5.5 million, it employs some 50 people. Polyform is a profitable company that will have a positive impact on the HIRSCH Servo Group’s consolidated financial statement right from the first consolidation.
Previous owners Mr Jozef Val’ko and Mr Ivan Zajac will act as local managers together with Mr Siegfried Wilding, who holds management positions in several companies in the HIRSCH Servo Group’s main EPS Processing division.
The next date on the financial calendar is January 31, 2006 when the results for the second quarter of 2005/06 will be announced.
* The HIRSCH Servo Group is the EPS specialist on the Vienna Stock Exchange with manufacturing facilities in Austria, Hungary, Poland, Italy, shortly in Romania and as reported above in Slovakia. EPS products (EPS stands for expandable polystyrene and is better known under such brand names as Porozell® or Styropor®) support a variety of functions, including energy savings, as well as sustainable and eco-friendly growth. Their wide-ranging applications cover packaging, shape-molded parts, building insulation, modular boards for underfloor heating, construction blocks and Thermozell® lightweight concrete products.
For further information, please contact Michaela Promberger, Tel: +43 4277 2211-312,
Fax: +43 4277 2211-370, E-mail: michaela.promberger@hirsch-gruppe.com,
www.hirsch-gruppe.com
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