Stahl owner sees value double
2 June 2011France based Wendel, the investment company which owns leather chemical maker, Stahl, announced on May 30 that their net asset value had doubled over the past 12 months. Non-listed subsidiaries, which includes Stahl are valued at more than €1 billion.
Wendel, which holds shares in companies such as Saint-Gobain (16.9%), the French construction giant said that improved results generated by non-listed companies, combined with an improvement in market conditions had reached more than €1 billion in value. Deutsch Materis and Stahl had reached this target and had reinforced Wendel’s target of a value between €1.5 and €2.5 billion by the end of 2013.
Stahl recently extended their leather chemical product offer by introducing a range of beamhouse products.
Wendel net asset value per share on May 19 was €109.3.
