Euro-Mat parts company with Eurobaustoff

Euro-Mat of Luxembourg, the pan-European buying cooperative, will make a complete break with its German shareholder Eurobaustoff with effect from 19 January 2007 at an extraordinary general meeting. Crucial to this decision of Euro-Mat's shareholders is Eurobaustoff's strategic alliance with the DIY retail chain Toom, as well as with the Toomaxx organisation, which also impacts on Euro-Mat with regard to retail business. "The executive board and management of Euro-Mat are convinced that this clear, honest and fair attitude towards the supply industry represents the right course in the medium and longer term," is how Lucien Hardt, managing director of Euro-Mat, explained the decision. And as he said in conclusion, this separation from the long-term partner, which will be completed by mutual consent, is bound to open up interesting doors in both the retail and the wholesale trade, the crucial element for Euro-Mat, and lead to new partnerships in the German market from 2007.