25.1.2021 16:36:57 CET | Brødrene Hartmann A/S |
Investor News
Following the competition authorities’ approval and fulfillment of other conditions, Hartmann has completed the acquisition of Gotek-Litar JSC, which produces moulded-fibre packaging at a factory in Zheleznogorsk, approximately 450 kilometers south of Moscow.
The transaction is completed at a purchase price of DKK 116 million and will be financed within the framework of the group’s existing credit facilities as described in company announcement 17/2020 on 9 September 2020.
Gotek-Litar will be included in the reporting segment Eurasia, which replaces the segment Europe and will continue to comprise production and sales of moulded-fibre packaging in Hartmann’s markets as well as machinery and technology, which is sold globally outside Hartmann’s main markets.
Hartmann still expects revenue in the DKK 2.5-2.7 billion range, a profit margin of 16-18% before restatement for hyperinflation and special items as well as investments around DKK 450 million in 2020.
Contacts
- Torben Rosenkrantz-Theil, CEO, (+45) 45 97 00 57
About Brødrene Hartmann A/S
Hartmann is the world’s leading manufacturer of moulded-fibre egg packaging, a market-leading manufacturer of fruit packaging in South America and India, and the world’s largest manufacturer of technology for the production of moulded-fibre packaging. Founded in 1917, Hartmann’s market position builds on its strong technology know-how and extensive experience of sustainable moulded-fibre production dating back to 1936. Hartmann sells egg and fruit packaging to manufacturers, distributors and retail chains, which are increasingly demanding sustainable packaging solutions and specialised marketing expertise. Our versatile product portfolio is customised to accommodate customer and consumer needs in each individual market. Hartmann sells machinery and technology to manufacturers of moulded-fibre packaging in selected markets. Headquartered in Gentofte, Denmark, Hartmann has 2,500 employees. Hartmann’s production platform consists of 15 factories in Europe and Israel, North and South America, and India and Russia.
Attachments
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