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VALMONT ACQUIRES EUROPEAN MANUFACTURER OF ENGINEERED STEEL PRODUCTS
Source: Valmont news release

Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure and mechanized irrigation equipment for agriculture, announced today that it has acquired privately-held DS SM A/S, a market leader in Northern Europe for the manufacture of heavy complex steel structures for a diverse range of industries including wind energy, offshore oil and gas, and electricity transmission.

The Company, which will be renamed Valmont SM A/S, and will be reported in Valmont's Engineered Infrastructures Products Segment, has annual sales of approximately $190 million and operates two manufacturing locations in Denmark.

The enterprise was valued at DKK 800 million (approximately $148 million) and DS SM's operating characteristics are similar to Valmont's other businesses within the Engineered Infrastructure Products Segment. Valmont expects the acquisition to be accretive to 2014 earnings.

DS SM (www.ds-sm.dk) part of DS Gruppen operates in three primary product segments.

For wind energy, the company manufactures support structures for both the onshore and rapidly growing offshore wind market segments, as well as rotor housings for direct drive turbines.

For the oil and gas industry, the company manufactures specialty equipment for offshore drilling rig stability. For offshore production platforms they also manufacture lifting and handling equipment such as cranes and winches.

For the utility industry, DS SM manufactures engineered transmission support structures.

"DS SM is a premier engineered structures firm focused on energy infrastructure," said Vik Bansal, Group President of Valmont's Global Engineered Infrastructure Products Segment. "Support structures for the onshore/offshore wind and utility industries fit well with Valmont's existing competencies.

This acquisition enables Valmont to participate in growing markets for wind energy, oil and gas exploration, power transmission and other related infrastructure projects, while giving us an attractive platform to expand our engineered infrastructure product lines across a broader geographic footprint."

"My management team and I are very pleased to be joining Valmont. We will maintain our 10% ownership interest in DS SM and we believe that Valmont provides the best strategic fit for DS SM and enables the next growth phase for our company," added Claus Bo Jorgensen, CEO of DS SM.


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