ELEMENTIA, S.A.B. DE C.V.
Elementia Announces Strategic Corporate Reorganization Proposal
Thursday, April 4, 2019 8:10 PM
MEXICO CITY / ACCESSWIRE / April 4, 2019 / Elementia, S.A.B. de C.V. (BMV: ELEMENT) ("the Company", or "Elementia"),
announced today that, the Company's Board of Directors, with the prior opinion of the Audit and Corporate Practices Committee, approved the decision to submit for shareholder consideration a strategic reorganization proposal. This strategic proposal aims to maximize the Company's different business units, as well as to offer its universe of shareholders alternative investment options and profiles.
The reorganization plan would mainly entail a spin-off of Elementia, in order to transfer to a newly-created spun off entity, all of the assets that, to date, comprise the Metal Products and Building Systems business units, including representative shares of the capital stock from shareholding companies of these divisions, as well as, liabilities and equity. The Cement business unit would remain part of the current parent company, Elementia.
The Board of Directors approved to continue the analysis and begin all processes related to the possible reorganization, and to submit the reorganization plan to the Company's shareholders for consideration, as well as all necessary or convenient initiatives in order to carry out the process in the most efficient manner.
When the time comes, Elementia will call for an Ordinary Shareholders' Meeting and will publish a detailed statement including all the information related to the corporate reorganization. This information will be available for the investing public at the Company's website www.elementia.com in order to ensure that all shareholders are able to make well-informed decisions regarding the reorganization plan. The spin-off would be subject to approval of all applicable parties as determined by the Shareholders' Meeting or its delegates.
Conference call: hosted by management team to discuss this strategic decision:
- Monday, April 8, 2019
- 11:00 am Central Time / 12:00 pm Eastern Time
To participate in the call, please dial: 1-877-830-2576 from within the U.S. and +1-785-424-1726 from outside the U.S. Passcode: ELEMENTIA. A replay will be available following the conclusion of the call for 7 days by dialing: 1-844-488-7474 from within the U.S. and +1-862-902-0129 from outside the U.S.; Access Code: 64204419.
This relevant event includes certain forecasts or projections, which reflect the current vision or expectations of Elementia and its management with respect to its performance, business and future events. Elementia uses words like "believe", "anticipate", "plan", "expect", "pretend", "aim", "estimate", "project", "predict", "forecast", "guidelines", "must" "and other similar expressions to identify forecasts or projections, but it is not the only way in which it refers to them. These statements are subject to certain risks, unforeseen circumstances and assumptions. Elementia warns that a significant number of factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this relevant event. Elementia is not subject to any obligation and expressly disclaims any intention or obligation to update or modify any forecast or projection that may result from new information, future events or any other cause.
Elementia is a major manufacturer of semi-finished copper, alloy, fiber cement, cement, and plastic products offering innovative constructive solutions that redefine the concept of constructive evolution. Our state-of-the-art rotomolding technology, Eureka®, preserves the most important resource we have: water; which runs through our Nacobre® pipe systems. In addition, more than 65 years of experience of our Nacobre® brand, allows gas installations to be used in a safely manner. Elementia has grown organically, and through strategic mergers and acquisitions, creating an integrated platform of more than 4,000 products. Through Cementos Fortaleza®, and the strategic acquisitions of Giant®, Keystone® and Dragon® cement, we give structure to foundations, columns, floors and ceilings of houses, shopping malls, offices, hospitals, etc., both in Mexico and the U.S. Elementia has more than 6,000 employees, operating presence in nine countries and a wide distribution network. Innovative and versatile panels manufactured by Allura®, Plycem®, Eternit®, Duralit® and Fibraforte®, offer fiber cement technology advantages in decorative façades, wooden simulation decks, traditional roof tiles and state-of-the-art ceilings. Elementia is the largest fiber cement producer in Latin America and second largest player in the U.S.
Telephone: +52 (55) 5728 5370
SOURCE: ELEMENTIA, S.A.B. DE C.V.