1Anno
@Campari
Steico gets new owner The fact that a 51% block of shares is changing hands at Steico does not taste good. Founder and majority owner Udo Schramek is selling 51% of his shares to Kingspan. Around 10% will remain with Schramek, who will continue to serve as CEO and chairman of the board of directors. The Irish are proving good timing here, as the share has lost around 75% since its all-time high in the summer of 2021. As a supplier of ecological insulation materials, Steico has many growth drivers underpinned by megatrends up its sleeve. In addition, the product portfolio complements the existing construction solutions of Kingspan, which specializes in thermal insulation for buildings. The share (33.50 euros; DE000A0LR936) thus retains a free float of around 26.8%. After the recent profit warning, however, we remain outside Steico.
Steico gets new owner The fact that a 51% block of shares is changing hands at Steico does not taste good. Founder and majority owner Udo Schramek is selling 51% of his shares to Kingspan. Around 10% will remain with Schramek, who will continue to serve as CEO and chairman of the board of directors. The Irish are proving good timing here, as the share has lost around 75% since its all-time high in the summer of 2021. As a supplier of ecological insulation materials, Steico has many growth drivers underpinned by megatrends up its sleeve. In addition, the product portfolio complements the existing construction solutions of Kingspan, which specializes in thermal insulation for buildings. The share (33.50 euros; DE000A0LR936) thus retains a free float of around 26.8%. After the recent profit warning, however, we remain outside Steico.
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1Anno
@Smudeo i Know, I see this as a positive development for Steico. You get new target markets and opportunities to offer more products bundled through the owner.
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