Huhtamaki to sell its rigid plastic consumer goods business in
Australia
(Thomson Reuters ONE) - HUHTAMÿKI OYJ STOCK EXCHANGE RELEASE 13.11.2009 AT 10.45Huhtamaki has agreed to sell its rigid plastic consumer goodsbusiness in Australia to Alto Manufacturing Pty Ltd, a subsidiary ofPact Group Pty Ltd. The annual net sales of the divested business issome EUR 50 million and it currently employs some 330 people. Thedivested business includes three manufacturing units in Bankstown,Mulgrave and Wacol. The agreed value for the transaction is EUR 33million. The transaction is expected to be finalized in approximatelytwo weeks."We are pleased to be able to finalize the strategic review of ourrigid plastic consumer goods business for Australia's partapproximately in a year from the strategy announcement", saysHuhtamäki Oyj's CEO Jukka Moisio. "Pact Group already acquired ourAustralian EPS (Expanded Polystyrene) business and we feel that PactGroup is a good future owner for the rigid plastic consumer goodsbusiness in Australia." The divested units serve multinational andlocal customers with dairy, ice cream and edible fats packaging.In Australia, Huhtamaki will continue its foodservice, molded fiberand flexibles operations. Rigid paper and plastic packagingproduction in Windsor serving the local foodservice market, the roughmolded fiber packaging production in Preston and the flexibles salesunit in Waverly continue to support customers in strategic focusareas."Following this divestment, we are halfway through the strategicreview in terms of net assets. We will continue to review our rigidplastic consumer goods operations in Europe. One possible outcome isa sale," Jukka Moisio recaps.For further information, please contact:Kia Aejmelaeus, Head of IR, tel. +358 (0)10 686 7819, mobile +358(0)40 7654616Minna Kylänpää, Head of Group Communications, tel. +358(0)10 686 7863HUHTAMÿKI OYJGroup CommunicationsHuhtamaki Group is a leading manufacturer of consumer and specialtypackaging with 2008 net sales totaling EUR 2.3 billion. Foodserviceand consumer goods markets are served by approximately 13,000 peoplein 59 manufacturing units and several sales offices in 34 countries.The parent company, Huhtamäki Oyj, has its head office in Espoo,Finland and is listed on the NASDAQ OMX Helsinki Ltd. Additionalinformation is available at www.huhtamaki.com.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 13.11.2009 - 09:45 Uhr
Sprache: Deutsch
News-ID 8358
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