Dalhoff Larsen & Horneman A/S
DLH divests its US trading business following the strategy change

Dalhoff Larsen & Horneman A/S 

04.08.2014 20:50

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The issuer is solely responsible for the content of this announcement.

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Dalhoff Larsen & Horneman A/S has today closed an agreement to sell its US
trading business to the 128 years old US based Central National-Gottesman Inc.
(CNG). The transaction concerns DLH's business unit exporting Russian plywood
to the US with an annual turnover of approximately DKK 70 million in 2013. The
transaction will result in net proceeds of DKK 35 million in cash and DLH will
realize a gain of DKK 3 million on the transaction. 

'I am pleased to announce this transaction following our strategy change. Our
skilled and loyal employees in the US trading business have gotten a new home
where I am sure they will prosper and continue to grow the business. For DLH it
is another step in realizing the strategy approved in January 2014 and I am
glad we were able to conclude it on satisfactory terms.' Says CEO Kent
Arentoft. 

About Central National-Gottesman Inc. (CNG)

Founded in 1886, CNG is one of the largest privately held pulp, paper,
packaging and tissue companies in the world, with revenue exceeding USD 4
billion in annual sales. 


         For further information about this announcement, please contact CFO
Peter Thostrup on tel: +45 4350 0100.
News Source: NASDAQ OMX



04.08.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language:     English
Company:      Dalhoff Larsen & Horneman A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0060038933
WKN:          
 
End of Announcement                             DGAP News-Service
 
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