Nobia signs letter of intent to divest Optifit and Marlin
(Thomson Reuters ONE) -
Nobia has signed a letter of intent with Optifit's management team regarding a
divestiture of all assets in the Optifit Group, including production and sales
of kitchens, and production and sales of bathroom furniture sold under the
Marlin brand, and associated production sites and machinery in Stemwede,
Germany.
Nobia plans to divest Optifit Group for structural reasons. The manufacturing
under the Hygena brand, which is currently conducted in Stemwede, is planned be
moved to the company's production units in the UK. Instead of closing the
remaining kitchen operation, Nobia has entered into this letter of intent, as
Optifit's management has expressed its interest in running the remaining
operations in Stemwede.
The Optifit management team, led by Leo Brecklinghaus, has extensive experience
from the German furniture industry. Following this letter of intent regarding a
management buyout (MBO), they will immediately start talks regarding the
continuation of the kitchen and bathroom furniture operation in Stemwede, with
all parties concerned, including employee representations.
The divestiture is expected to impact Nobia's earnings positively and to imply
restructuring costs primarily in terms of write-down of goodwill and buildings.
The transaction may require approval of Nobia's General Meeting.
For further information:
Morten Falkenberg
President and CEO
Telephone: +46 70 532 08 00
Mikael Norman
CFO
Telephone: +46 70 594 57 29
Nobia develops and sells kitchens through some 20 strong brands in Europe,
including Magnet in the UK, Hygena in France, HTH, Norema, Sigdal, Invita,
Marbodal and Myresjökök in the Nordic countries, Petra, Parma and A la Carte in
Finland, ewe and FM in Austria, Optifit in Germany and Poggenpohl globally.
Nobia generates profitability by combining economies of scale with attractive
kitchen offerings. The Group has approximately 7,400 employees and net sales of
around SEK 13 billion. The Nobia share is listed on the NASDAQ OMX Nordic
Exchange in Stockholm under the short name NOBI. Website: www.nobia.com.
Press release:
http://hugin.info/133488/R/1663563/539523.pdf
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Source: Nobia via Thomson Reuters ONE
[HUG#1663563]
Unternehmensinformation / Kurzprofil:
Datum: 10.12.2012 - 13:02 Uhr
Sprache: Deutsch
News-ID 211147
Anzahl Zeichen: 2955
contact information:
Town:
Stockholm
Kategorie:
Business News
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