Endeka Ceramics

• Leading global supplier of raw materials and intermediate products to the ceramic tile and sanitary ware industries
• Global market leader in milled zircon
• Mainly used as a whitener (opacifier) in tiles and sanitary ware
• Global presence with core manufacturing facilities in Spain, Italy, UK, Brazil, USA, Malaysia, India and China

Investment Thesis

• Leader in niche market with strong barriers to entry and strong position in tile value chain
• Increasing underlying demand from CEE, Asia and Latin America
• Well invested, stable and cash generative business
• Dominant position in milled zircon - crucial raw material for tile industry with limited supply
• Well positioned for further expansion

Website

Company: www.endekaceramics.com