Bloomberg News

Arques Earns EU16 Million in SKS Stakusit Unit Sale

July 31, 2007

(Corrects profit in headline and first paragraph, purchase price in second.)

Arques Industries AG, a German holding company with stakes in machinery makers, said it earned 16 million euros ($22 million) in the disposal of its building component supplier unit SKS Stakusit.

The company sold SKS, a Duisburg, Germany-based maker of building materials including anti-insect devices, for 17 million euros to Gei-Immo AG after ``fundamental restructuring,'' Starnberg-based Arques said in a statement on the DGAP newswire today. It bought the unit in 2005 for 1 million euros from Masco Corp. of the U.S.

The disposal is Arques' fifth within the past 12 months, the company said.

To contact the reporter on this story: Stefanie Haxel in Frankfurt at shaxel@bloomberg.net

To contact the editor responsible for this story: Chris Jasper cjasper@bloomberg.net.


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus