Compagnie du Bois Sauvage - Pressemeldinger
The American company Noel Group (plastic extrusion) has taken full control of the American company Nomacorc (synthetic corks) through an exchange offer on its shares, with effect on July 1st 2005. Nomacorc thereby became a subsidiary of Noel Group.
 
The two companies had already the same structure of control. This operation will allow:
  • increased leverage of holding company management team with deep functional expertise at all levels (strategic decision making and implementation, business development, R&D, supply chain management and organizational development)
  • Increased financial strength
  • Administrative simplification
  • Greater operational risk diversity
Prior to this operation, the Company owned, directly or through its subsidiary Surongo America, 17,8% in Noël Group, 18,3% in Nomacorc and a USD 3 millions Nomacorc convertible bond. In addition, the company bought Nomacorc shares for USD 0,6 million prior to the operation.
 
After this operation and the bond conversion, the Company has, directly or through its subsidiary Surongo America, 19,9% in the new entity.
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