KAP AG
KAP AG SELLS A SUBSECTION OF THE FLEXIBLE FILMS SEGMENT’S AT A PROFIT
EQS-News: KAP AG
/ Key word(s): Strategic Company Decision/Disposal
KAP AG SELLS A SUBSECTION OF THE FLEXIBLE FILMS SEGMENT’S AT A PROFIT
Fulda, 06 March 2023 – KAP AG (“KAP”), a listed, medium-sized industrial holding company (German securities identification number: WKN 620840, ISIN DE0006208408), together with its subsidiary Mehler AG, today entered into an agreement to sell a subsection of its flexible films segment to Kingspan Holding GmbH, a company of Kingspan Group Plc., Ireland. The operating companies to be divested are CaPlast Kunststoffverarbeitungs GmbH with its investee AerO Coated Fabrics B.V. and Now Contec GmbH & Co. KG. The net sale proceeds are in the upper double-digit million euro range. Eckehard Forberich, member and Spokesman of the Management Board of KAP AG: “The sale was preceded by a review of all strategic options and growth opportunities for the flexible films segment. As in the past, KAP AG considers selling an entity when its strategic further development outside the KAP Group – and in this case above all in association with a larger group from the respective industry – offers more appreciation potential. A significant portion of the sales proceeds will be reinvested in other segments and sub-segments in a timely manner to strengthen their market position.” Marten Julius, CFO of KAP AG: “We are very pleased that we were able to achieve attractive sale proceeds in these dynamic times and to complete the sales process efficiently. The inflow of proceeds affords us financial scope to implement our group strategy.” The operating subsidiaries sold, CaPlast Kunststoffverarbeitungs GmbH with its investee AerO Coated Fabrics B.V. and Now Contec GmbH & Co. KG, have evolved extremely successfully in recent years through targeted expansion of the product range and manufacturing capabilities. The subsegment of KAP flexible films is specialised in the high tech coating solutions for the construction business and other highly attractive niche markets. By selling them at a profit, KAP has been able to realise a considerable appreciation in value in the interest of its stakeholders. The flexible films segment continues to include the investees Haogenplast Ltd, Elbtal Plastics GmbH & Co. KG and Riflex Film AB, focusing on swimming pool liners and other high-quality specialty films. With the divestment, KAP is continuing to pursue its strategy as planned and increasing its financial flexibility to implement targeted high-growth add-on acquisitions or major projects in its core segments. In doing so, the company continues to stay true to its purpose of increasing value in the interest of its stakeholders. Closing of the transaction is subject to the approvals by the relevant regulatory authorities. The transaction is expected to be closed in the second quarter of 2023. Contact:
06.03.2023 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: | 1575529 |
End of News | EQS News Service |