Sapa AB Anounces Completion of Divestment of Sapa Autoplastics.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Sept. 27, 2001 Sapa AB announces that it has completed the sale of Autoplastics. Autoplastics will reassume Re`as`sume´ v. t. 1. To assume again or anew; to resume. its previous name Plastal. New owners are Gilde Investment Management B.V., the Dutch investment buy-out specialist, and Autoplastics management. The transaction was subject, inter alia [Latin, Among other things.] A phrase used in Pleading to designate that a particular statute set out therein is only a part of the statute that is relevant to the facts of the lawsuit and not the entire statute. , to the European Commission's competition clearance, which has now been received. All other conditions have also been met. The consideration was satisfied on completion by a cash payment of SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1,220 million. Autoplastics is among the leading manufacturers and suppliers of bumpers and bumper systems to the premium European car market, the only manufacturer of painted bumpers in Scandinavia and supplier of interior and exterior plastics to the European automotive industry. Autoplastics recorded sales of SEK 1,858 million and an operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of SEK 41 million in the first half of this year. "Including the disposal of our foil operations earlier this year, Sapa is now extremely well-positioned and financially strong for further growth and expansion in our key markets. It is estimated that the net debt to equity ratio The debt to equity ratio (D/E) is a financial ratio indicating the relative proportion of equity and debt used to finance a company's assets. It is equal to total debt divided by shareholders' equity. will be approximately 50 per cent after the transaction", says Staffan Bohman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Sapa. Sapa is an international industrial group focused on high value-added products based on the lightweight material aluminium. The products include profiles and heat-transfer strip in aluminium. Sapa has a turnover of approximately 15 billion SEK with 7,000 employees all over Europe and in USA and China. Sapa is one of Europe's leading companies within its field and the customers are found in the transport-, building-, engineering- and telecom industries. Sapa is registered on the A-list of the OM Stockholm Exchange. Further information about Sapa can be found on our web site; www.sapagroup.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion