Suominen has sold its minority share in Amerplast
Suominen Corporation’s stock exchange release on March 19, 2021 at 1:30 p.m. (EET)
Suominen divested its Flexibles business in 2014 to Lonsdale Capital Partners LLP and the Flexibles management team who continued the business under the name Amerplast. Suominen retained a minority shareholding of 19.9 percent after the divestment.
Suominen has on March 19, 2021 sold its minority share to Hanmere Polythene Ltd, a portfolio company of the UK private equity group Chiltern Capital. The parties have agreed that the transaction price shall remain confidential. The transaction will positively impact Suominen’s 2021 financial items by EUR 3.7 million and cash flow by EUR 11.6 million, consisting of a gain on the sale of the shares and the repayment of loans granted in the 2014 divestment as well as a reversal of credit loss provisions associated with the loans. The transaction will not have a material effect on Suominen’s result going forward.
For further information, please contact:
Petri Helsky, President & CEO, tel. +358 10 214 3080
Toni Tamminen, CFO, tel. +358 10 214 3051
Suominen manufactures nonwovens as roll goods for wipes and other applications. Our vision is to be the frontrunner for nonwovens innovation and sustainability. The end products made of Suominen’s nonwovens are present in people’s daily life worldwide. Suominen’s net sales in 2020 were EUR 458.9 million and we have nearly 700 professionals working in Europe and in the Americas. Suominen’s shares are listed on Nasdaq Helsinki. Read more at www.suominen.fi.
Nasdaq Helsinki Ltd.