Markets

Heidelberg Announces Sale Of Hi-Tech Coatings - Quick Facts

(RTTNews) - Heidelberger Druckmaschinen AG (HBGRF.PK) announced it has sold Hi-Tech Coatings unit to Innovative Chemical Products Group's ISG division. The purchase price was 38.5 million euros. Heidelberg expects the sale to generate non-recurring income of around 20 million euros. Three sites and a total of around 60 employees will be transferred to ICP's ISG division.

The company said the divestiture is a part of its initiative to focus on core activities and portfolio adjustments. The transaction is expected to be effective in 2019.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos