New strategic acquisition by MAISONS FRANCE CONFORT (AcT)

MAISONS FRANCE CONFORT signed a preliminary agreement on 15 March to acquire AZUR ET CONSTRUCTION effective 1 April 2005.

AZUR ET CONSTRUCTION, which was founded in 1994, is a well-known company that builds individual homes. It operates in the western part of the Bouches du Rhône department (sales offices in Arles, Salon and Martigues).

Its young manager, Stéphane ANGELI (39 years old), whose dynamic approach has contributed to Azur et Construction’s success, will retain his executive role at the MAISONS FRANCE CONFORT group’s new subsidiary.

Perfect fit from a financial and marketing standpoint.

In the year to 30 June 2004, AZUR ET CONSTRUCTION built one hundred individual homes and posted sales of €8.9m. It recorded a net profit of €0.93 million, net cash of €3.3 million and €1.5 million in shareholders' equity, reflecting its fine bill of financial health.

This acquisition will immediately have a positive impact on MAISONS FRANCE CONFORT’s result.

Thanks to this deal, MAISONS FRANCE CONFORT will strengthen its geographical coverage in the western part of the Bouches du Rhône department, an area where the Group did not previously have much of a presence, with a view to expanding into the Nîmes region.

MAISONS FRANCE CONFORT now boasts sales coverage in 15 regions of France, with 133 sales offices and 30 show homes.

MAISONS FRANCE CONFORT is due to present its annual results for 2004 at 10am on 20 April 2005 at Salons Hoche.

About MAISONS FRANCE CONFORT:

Founded in 1919, MAISONS FRANCE CONFORT is the longest-serving individual homebuilding company and the second-largest player in the French market (individual plots). In 2004, the Group booked 4,220 orders and posted sales of €265 million. MAISONS FRANCE CONFORT is listed in Compartment C (small-cap stocks) of Eurolist.

Source : Actusnews