Wendel To Sell Stahl’S Wet-End Division to affiliate of Syntagma Capital
Nov 18 (Reuters) -Wendel SE MWDP.PA:
WENDEL WELCOMES THE SALE OF STAHL’S WET-END DIVISION THAT MARKS AN IMPORTANT STEP IN THE GROUP’S STRATEGIC JOURNEY
ANNOUNCES PROPOSED DIVESTMENT OF ITS WET-END LEATHER CHEMICALS BUSINESS TO AN AFFILIATE OF SYNTAGMA CAPITAL
PROPOSED TRANSACTION IS SUBJECT TO CUSTOMARY CLOSING CONDITIONS, INCLUDING THE COMPLETION OF THE WORKS COUNCIL CONSULTATION PROCESS
DIVESTMENT WILL INCLUDE 428 EMPLOYEES, THE FULL WET-END PORTFOLIO AND MANUFACTURING FACILITIES IN ITALY AND INDIA
PRO FORMA FOR THE SALE OF THE WET-END CHEMICALS BUSINESS AND ACQUISITION OF WEILBURGER GRAPHICS, STAHL'S 2023 SALES WOULD AMOUNT TO €786 MILLION
CEO SAYS ACCELERATING INVESTMENTS IN GROWTH, NEW MANUFACTURING PLANT IN SINGAPORE, DOUBLING CAPACITY IN CHINA, INVESTMENTS IN NEW CENTERS OF EXCELLENCE IN ASIA, THE US AND EUROPE
TRANSACTIONS TO HAVE ACCRETIVE IMPACT ON STAHL'S EBITDA MARGIN
Further company coverage: MWDP.PA
(Gdansk Newsroom)
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