The Danish door Group Vest-Wood A/S has entered into an agreement to acquire Kellpax AG, Bremgarten from Hiag Group as on 30 June 2006.

Through this acquisition, the Vest-Wood group continues its strategy to establish own production facilities in all important markets and expands its position as leading door group in Europe.

Vest-Wood and Kellpax AG have been cooperating successfully for several years on the Swiss market. As full product provider in the door field, Kellpax is already one of the leading door suppliers in Switzerland und has developed its position successfully in recent years.   Kellpax AG remains a strong and independent unit within the Vest-Wood Group with the present management team and location in Bremgarten. Kellpax AG employs 65 people at the present time.

The integration of Kellpax in the Vest-Wood Group offers a number of strategic and operational opportunities.  “The exploitation of synergies constitutes considerable growth opportunities in the Swiss door market. The customers will benefit from a wider product range and even better services through an optimum exploitation of production capacities and sales channels”, says Asbjørn Berge, CEO of Vest-Wood A/S. The Vest-Wood Group and Kellpax continue to sell its products under the existing brands in Switzerland.

“In order to continue Kellpax AG’s growth strategy more consistently, it has been decided to bring the two companies closer together. The strategic opportunities for the mid-term and long-term development of the company in a large door manufacturing group convinced us and our shareholders at last”, says Dr. Felix Grisard, CEO of HIAG AG.

If you have any questions, please address them to:

CEO Asbjørn Berge            CEO Dr. Felix Grisard
Vest-Wood A/S                 HIAG AG
Tel. +45 96 66 22 00          Tel. +41 61 606 55 00