HERIGE Group has announced the start of exclusive negotiations with SORIBA to sell its NAULLET entity as part of plans initiated in February 2016 to refocus on its core business.
The operations being sold amounted to €5.2 million in turnover at 31 December 2016 and currently represent 33 employees. Should the transaction proceed, these employees would join the SORIBA group, a specialist in architectural concrete that already has some one hundred employees spread between two production sites in France's Vendée region.
The planned sale remains subject to the lifting of the standard conditions precedent for this type of transaction. The closing is expected to take place by the end of 2017.
The strategic decision to sell this subsidiary of the Concrete industry business demonstrates HERIGE Group's determination to simplify its business portfolio to better focus its investments on distinctive development projects and build greater resilience.
NEXT PUBLICATION: Q4 turnover on 6 February 2018 (after the stock exchange closes)
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HERIGE (ex VM Matériaux) focuses on three business sectors of the building industry: Materials trading, the Concrete industry and Industrial joinery. Originally based in the Vendée region, HERIGE currently employs more than 2,400 people and has a strong presence in Western France.
HERIGE is listed on Euronext Paris, Compartment C
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Codes: isin FR0000066540, Ticker: HERIG
Bloomberg HERIG.FP, Reuters HERIG.PA
Alain MARION - Chairman of the Executive Board
Caroline LUTINIER - Head of Group Communication
Tel: +33 (0)2 51 08 08 08
 As per IFRS 5, the NAULLET business has been deconsolidated since 1 January 2017.