Sanitec strengthens presence in Ukraine through the acquisition of 100% of Slavuta Holding

On 21 June 2011 Sanitec has come to an agreement to purchase 49 percent of shares of Slavuta Holding from the four individual Ukrainian shareholders who were initial partners in the Joint Venture formed in 2006. The purchase increases Sanitec’s ownership of Slavuta Holding from 51 percent to 100 percent of the shares.  

The transaction is significant for Sanitec as it allows it to strengthen its competitive position in a quickly growing market area. As a wholly-owned subsidiary, Slavuta Holding will allow Sanitec to realise the full potential of the Ukrainian operations as well as fully integrate the business into the group’s manufacturing and sales network.  

Slavuta Holding consists of the Budfarfor ceramics production plant and a sales organisation. The operation employs around 1.750 people and with its production capacity of 3.5 million ceramics pieces a year is one of the biggest ceramics factories in Europe. A new, modern and sophisticated manufacturing line, Hall #6, has recently started up and will reach full production capacity in 2012.  

Slavuta is a market leader in Ukraine with a ceramics market share of up to 30%. Sanitec will continue strengthening its presence through the strong local brand Colombo as well as the already well established Sanitec brands Kolo, Ido and Ifö.  

“The Slavuta acquisition is a significant opportunity for Sanitec to bring value for the company, given the development potential of the local markets Russia, Ukraine and other CIS countries. The production setup is very attractive given the skilled and experienced labour force, lower production costs and product quality that respond to the highest European standards”, says Peter Nilsson, President & CEO, Sanitec Corporation.  

About Sanitec

Sanitec is a European multi-brand group domiciled and head-quartered in Finland that designs, manufactures and markets bathroom ceramics and bath and shower products. Sanitec Group has a portfolio of established and market-leading local brands. 

For further information:
Peter Nilsson, President & CEO, Sanitec Corporation
Tel. +358 10 662 5425