Bong steps in to help InterMail over decision to close envelope business and production.
M2 EQUITYBITES-January 18, 2018-Bong steps in to help InterMail over decision to close envelope business and production
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Bong AB (STO:BONG), a manufacturer and seller of specialty packaging and envelope products, announced on Wednesday that it has agreed to help InterMail in its decision to cease its envelope business in the Nordics, as well as its envelope production.
According to Bong, to aid InterMail in this transition, it will help to serve InterMail customers and ensure to provide a good service also in the future. This agreement includes royalty payment from Bong to InterMail during the coming three years.
Also, Bong will offer the majority of InterMail's sales representatives in Sweden, Denmark and Finland employment in Bong. The production of the envelopes will be done in Bong's existing factories.
Closing of the transaction is planned for March 2018 and is conditional upon the absence of any material adverse change in InterMail until the closing date.
Bong provides solutions for distribution and packaging of information, advertising materials and lightweight goods. The company offers envelopes and specialty packaging comprising Gift packaging and Packaging for e-commerce, as well as security packaging solutions for lawyers, accountants, hospitals, government agencies, banks and financial companies to send private and confidential documents. It also provides light packaging products, including retail gift bags and packaging products for e-commerce.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jan 18, 2018|
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