SigmaKalon to further expand its presence in the Slovak Republic
By Tim Wright
Published December 6, 2006
SigmaKalon has agreed to acquire a stake in two leading Slovakian paint distributors. SigmaKalon will acquire the full ownership of HCH s.r.o.. The company has sales of SKK 523 million (€13.4 million) and is based in Zilina. SigmaKalon also agreed to acquire a 60% holding in OP.ARM. The Michalovce-based company has sales of SKK 444 million (€11.4 million). Its founder Mr. Kanuch will remain with the joint-venture as both a shareholder and general manager. The transactions are subject to regulatory approval and are expected to close in January 2007. HCH operates five depots and five shops in West and Central Slovakia. The company is also active in the Bratislava region and sells through Trichem, its majority owned affiliate. In addition, OP.ARM has 5 depots and one shop in East Slovakia and is the majority owner of EUROPARM in Nitra in West Slovakia.
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