KAP CLOSES SALE OF PART OF THE FLEXIBLE FILMS SEGMENT
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EQS-News: KAP AG
/ Key word(s): Disposal/Strategic Company Decision
KAP CLOSES SALE OF PART OF THE FLEXIBLE FILMS SEGMENT
Fulda, 21 April 2023 – KAP AG (“KAP”), a listed, medium-sized industrial holding company (German securities identification number: WKN 620840; ISIN DE0006208408), today closed the announced sale of a subsection of its flexible films segment to Kingspan Holding GmbH, a company of Kingspan Group Plc., Ireland. The sold operating companies are CaPlast Kunststoffverarbeitungs GmbH with its investee AerO Coated Fabrics B.V. and NOW Contec GmbH & Co. KG. The net proceeds from the sale are in the upper double-digit million euro range. Eckehard Forberich, member and Spokesman of the Management Board of KAP AG: “With the divestment, KAP is continuing to follow its strategy as planned and increasing its financial flexibility. A significant portion of the proceeds from the sale will be reinvested in other segments and sub-segments in a timely manner to strengthen the respective market position and position us even more robustly against the background of uncertain markets. In doing so, we continue to pursue the purpose of sustainable value enhancement in the interests of our shareholders.” The flexible films segment still includes the investees Haogenplast Ltd, Elbtal Plastics GmbH & Co. KG and Riflex Film AB, focusing on swimming pool liners and other high-quality specialty films. Contact:
About KAP AG
21.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | KAP AG |
| Edelzeller Straße 44 | |
| 36043 Fulda | |
| Germany | |
| Phone: | 06611030 |
| Fax: | 0661103830 |
| E-mail: | office@kap.de |
| Internet: | www.kap.de |
| ISIN: | DE0006208408 |
| WKN: | 620840 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1614021 |
| End of News | EQS News Service |
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1614021 21.04.2023 CET/CEST
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