UNILIN agreement to purchase Magnum – Questions
Unilin has just announced the purchase of Magnum – Floors magazine managed to speak with Mr Philiep Caryn to ask a few questions about the acquisition just before the start of the Domotex exhibition tomorrow.
Can you tell us about Magnum?
Magnum started the production for 3 layer engineered parquet in 1998 in the town of Vyṧkov in the Czech Republic. Magnum has a production capacity of approx. 1 mio m² – which brings Unilin’s engineered wood volume up to approx. 3.5mio m².
Why this acquisition?
Unilin has seen a significant growth of the wood business since they started the production and sales for engineered wood floors in 2007. In 2010, Unilin did already a major investment in the existing plant in Malaysia to increase the production capacity. Today, there is a further need for more qualitative production capacity to support the further growth of the wood business.
Magnum has a good reputation for their quality, knowledge on wood products that fits with the Unilin values of Quality, Innovation, Design and Service.
Magnum is strategically well located: close to the forests for the raw materials and close to the European Customers. This location has an immediate positive impact on the carbon footprint for the production of our wood floors and also for the delivery of them to our customers.
Will the Magnum name be kept?
The Magnum brand will be maintained.
Details on brand management and positioning will become available as both parties try to better understand one another’s business. There is not so much overlap between Unilin and Magnum For now we continue to operate in the same manner that we did before the Magnum contract was signed.
Both parties need to better understand one another’s business to make firm decisions on account management. No significant changes are planned that you are aware of. It is business as usual.
We are still in the early stages of the acquisition and we will share more information about the future business as it becomes available.
