STEICO Aktiengesellschaft / Contract
29.05.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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STEICO becomes sole European distributor for laminated veneer lumber (LVL)
for MLT LLC
- Contract concluded with Modern Lumber Technologies LLC (Taleon
Industries), a leading Russian wood processing company
- Broad range of applications in wood construction opens up attractive
markets
- Addition to STEICO's product range and use of existing sales
organization
Feldkirchen (Munich), May 29, 2008 - STEICO AG, listed on Frankfurt Stock
Exchange's Entry Standard, has become the sole European distributor for
laminated veneer lumber (LVL) for Modern Lumber Technologies LLC (MLT),
based in St. Petersburg, Russia. This company, which belongs to Taleon
Industries, is currently building the world's most modern production
facility for laminated veneer lumber in Russia, with an annual capacity of
250,000 m³. This facility is scheduled to go live in the third quarter of
2008. The distribution agreement grants STEICO AG exclusive, unlimited
distribution rights for the entire Western and Central European region.
Laminated veneer lumber can be used in various construction jobs and is
offered as beams, trusses, planks and boards. The material is very stable
and can also bear great loads and cover large spans. This means that
laminated veneer lumber is particularly suitable for demanding, heavy duty
building projects, for example as main beams or bracing ceiling and roof
panels.
The sale of laminated veneer lumber will add another key element to
STEICO's own construction system and will penetrate additional attractive
markets. STEICO AG's Managing Board believes that the sale of LVL will make
a significant contribution to revenues and earnings from 2009, in
particular as the existing European sales organization can be used and
because STEICO does not have to invest in any plant or equipment.
STEICO has increased its product range, which is unique in the industry, by
adding laminated veneer lumber, thus reinforcing its position as a system
provider for ecological construction products.
In addition, STEICO and MLT plan to further intensify their cooperation in
future.
Company profile:
The STEICO group of companies develops, produces and sells ecological
construction products made of renewable materials. The company leads the
European market for wood-fiber insulation materials with a market share of
more than 40 percent STEICO is a pioneer for the environment with a large
bandwidth of FSC® and natureplus® certified products. The company enjoys
competitive advantages as a result of the effective cost structure at its
three European production facilities and its intense research and
development work. The Group's new products 'Hemp insulation materials' and
'I-joists' as construction elements for residential construction mean that
it has positioned itself as a system provider for ecological and
particularly energy-efficient construction products. The production of
natural fiber boards (NFB) as components for the I-joists rounds off
STEICO's vertical integration, which is unique within the industry. The
Munich-based company's products are successfully used in home building for
floors, walls, ceilings and roofs.
The STEICO Group plans to continue the growth it has enjoyed in the past
few years thanks to its clear strategic orientation. The strategic plans
focus on existing and new products, including for new customers. The funds
from the IPO in June 2007 have enabled the company to further bolster the
Group's excellent quality as well as to drive its internationalization.
Contact:
Andreas Schulze
STEICO Aktiengesellschaft
Hans-Riedl-Strasse 21
85622 Feldkirchen
Fon: +49-(0)89-99 15 51-48
Fax: +49-(0)89-99 15 51-97
E-Mail: schulze@steico.com
www.steico.com
DGAP 29.05.2008
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Language: English
Issuer: STEICO Aktiengesellschaft
Hans-Riedl-Str. 21
85622 Feldkirchen
Deutschland
Phone: +49 - (0)89 - 99 15 51 - 0
Fax: +49 - (0)89 - 99 15 51 - 99
E-mail: info@steico.com
Internet: http://www.steico.com
ISIN: DE000A0LR936
WKN: A0LR93
Listed: Freiverkehr in Berlin, Düsseldorf, München; Entry Standard in
Frankfurt
End of News DGAP News-Service
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DGAP-News: STEICO Aktiengesellschaft: STEICO becomes sole European distributor for laminated veneer lumber (LVL)
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