Coemac, S.A. BoD to propose corporate reorganization at the Shareholders’ Meeting next May

With this decision, the company strengthens its equity base

MADRID, 05-Apr-2016 — /EuropaWire/ — At its meeting today the Board of Directors of Coemac, S.A. has formulated the accounts for 2015, confirming 2015 results and the restructuring and provisions already advanced in the report of the second half of 2015.

The Board has also agreed to propose at the Shareholders’ Meeting next May a corporate reorganization that will involve the creation of a new subsidiary -Coemac Building Materials- which operating industrial assets of the Group shall be provided.

With the implementation of this new structure which strengthens its equity base, Coemac Group starts a new stage in the development of its activities with an optimized structure, capital strength and focusing on their businesses of plasterboard and drywall systems (Pladur), plasters (Algiss) and pipes and fittings (Adequa).

After a year 2015 with relevant changes and the reduction of its perimeter by the divestiture of tiles and insulation businesses, the Group Coemac forecasts are positive despite the uncertainties of the Spanish political and economic environment.

As pointed out by its President, Javier Gonzalez, “thanks to the recovery of domestic markets and buoyant export activity, Coemac faces with new impetus the challenges of growth and profitability in the future and has a moderate optimism to achieve in 2016 operating profit in the group’s businesses”.

Media contact Ana Rodríguez – Telephone: +34 915765250 / +34 676359366