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TenCate to acquire majority interest in GreenFields
08
Jan '11
TenCate has reached a broad agreement with the shareholders of GreenFields about a capital injection, enabling TenCate to acquire a majority interest in the company. As a result, GreenFields will form a major part of the consolidated downstream activities of TenCate in the synthetic turf market. TenCate has also signed a Letter of Intent with C.S.C. Ceelen Sport Constructies. Further financial details will not be issued.

GreenFields (Genemuiden, NL) develops and markets synthetic turf systems directly and through partners, mainly for sports applications. On the back of a strong international network and high quality support, GreenFields, as a FIFA Preferred Producer, handles a major share of the FIFA-related market. This collaboration will enable GreenFields to further expand its international network through partnerships and to further develop its innovative activities.

Additionally, a Letter of Intent has been signed with C.S.C. Ceelen Sport Constructies (Zeewolde, NL). The aim is the joint product and system development as well as distributing GreenFields turf systems in the Dutch market. C.S.C. is a leading synthetic turf company that focuses mainly on the sports field market and has achieved a dominant position in the football market in the Netherlands.

Strategy in the synthetic turf market
TenCate links its expertise in the development and production of synthetic turf fibres and carpet backing, as well as research and development relating to technical properties, to the expertise of system developers and installation companies. The aim of this is to give a general boost to improving the quality, playing characteristics and durability of synthetic turf sports fields. By entering into alliances with market parties, joint technological and other developments will occur and time to market will be shortened.

Efforts to achieve collaboration within the value chain will allow greater control of the entire manufacturing process. Quality assurance throughout the entire chain is of prime importance in this, as there is growing awareness of quality in the marketplace. This collaboration will also make a joint contribution to such aspects as environmental impact and sustainability concepts and to the recycling of sports fields.

The quality image of TenCate-related sports systems will be strengthened by collaboration in the value chain. The linking of TenCate Grass to partners such as GreenFields and C.S.C. will create a strong combination from beginning to end of the value chain.

Brand policy and end-user marketing
Companies within the downstream activities of TenCate will retain their commercial identity, because to an increasing degree market segmentation is being determined by technical characteristics, quality, price, etc. The GreenFields brand is seen by the market as strong, innovative and of high quality, as evidenced by its major share of FIFA-related projects.


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