HANZA continues to coordinate activities after the acquisition of Metalliset last summer. The site in Slovakia is divested, as HANZA intends to develop the new manufacturing cluster in Central Europe. HANZA Holding AB (publ), listed on Nasdaq First North Stockholm, has signed an agreement to sell its subsidiary in Slovakia. The business has approximately 50 employees and is a part of HANZA's Electronics Division. A portion of the current customers in HANZA Slovakia will be transferred to other sites in the HANZA Group, whereas other will remain in the divested production unit. HANZA long-term plan is to develop the new manufacturing cluster of Electronics/Mechanics in Poland/Czech Republic, which was created through the acquisition of Metalliset in September 2015. "The sale is an additional part of the efficiency program announced in January this year”, says Erik Stenfors, CEO HANZA. ”We then stated that we will develop HANZA significantly during 2015 through acquisitions and consolidation of some of our production facilities. The purpose of this strategy is to create an efficient industrial structure for the coming phase of the development of the HANZA Group, where we forecast an increased number of MIG-projects". The buyer is a Slovakian private investor, Andrej Beňuška, and the transaction is immediately finalized. "We are pleased with this opportunity to acquire the plant, which creates a good solution for both the customers and the employees," said Andrej Beňuška. The divestment will affect HANZA's earnings in 2015 marginally. Due to that only a part of the existing manufacturing in Slovakia is transferred to other sites in HANZA, the transaction is expected to result in somewhat lower revenue for the HANZA Group during 2016, however with somewhat improved operating profit. The parties have agreed not to disclose any further details of the agreement. For more information please contact: (per.tjernberg@kullsvik.com)Erik Stenfors, CEO, Phone: 46 -709 50 80 70, email: erik.stenfors@hanza.com ________________________________________________________________________________ _ ________________________ The information in this press release is such that HANZA must disclose it in accordance with the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.50 am (CET), December 11, 2015. Erik Penser Bankaktiebolag is the company's certified adviser. Important information This press release may contain certain forward-looking statements that reflect HANZA’s current views of future events and financial and operational performance. Words such as "intends", "anticipates", "expects", "may", "plan ", "anticipate" or similar expressions regarding indications or predictions of future developments or trends, and are not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it is dependent on future events and circumstances. Forward-looking statements are not guarantees regarding future results or developments and actual results may differ materially from those set forth in forward-looking information.
HANZA: Further streamlining, divests company in Slovakia
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