TPT September 2020

I NDUS T RY

Transformational year for the Van Leeuwen Pipe and Tube Group following acquisition

THE Van Leeuwen Pipe and Tube Group has announced that 2019 was a transformational year. Financial results improved compared to 2018, despite lower economic activity in the industry segment and one-off acquisition costs. The acquisition of Benteler Distribution, which was closed at the end of November 2019, will also double the company’s total sales volume. Van Leeuwen’s turnover increased 25 per cent to €787mn. The operating result improved almost 26 per cent to €17mn (2018: €13.5mn). The net result increased to €10.1mn (2018: €9.7mn). Excluding the contribution of the acquisition of Benteler Distribution, Van Leeuwen’s turnover increased 19 per cent to €750mn. The operating result improved to € 18.3mn and the net result increased to €11.5mn. Peter Rietberg, chairman of the management board, said: “For Van Leeuwen, 2019 was an exceptional year in which we celebrated our 95 th anniversary and acquired Benteler Distribution. The integration of Benteler Distribution is in full swing. As a family business with a long history and a solid financial basis, Van Leeuwen has confidence in its future. Even in less favourable times, we can rely on

Van Leeuwen has acquired Benteler Distribution

energy, construction and shipbuilding industries. The acquisition closed on receipt of all necessary approvals from relevant regulatory authorities on 29 November 2019. This strategic acquisition provides Van Leeuwen access to additional key markets in Europe. Van Leeuwen Pipe and Tube Group www.vanleeuwen.com

the resilience and strong structure of our worldwide company and first and foremost on the creativity, dedication and the fighting spirit of our management and employees.” On 31 July 2019, the Van Leeuwen Pipe and Tube Group entered into an agreement to acquire Benteler Distribution, an international distri- bution company operating in the mechanical engineering, automotive,

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SEPTEMBER 2020