Kotkamills sells its Imprex subsidiary
November 9, 2017 By P&PC Staff
Nov. 9, 2017 – Kotkamills Imprex Oy’s sole shareholder Kotkamills Oy has signed a share purchase agreement concerning the sale and purchase of all issued and outstanding shares in Kotkamills Imprex Oy to Dongwha Enterprise Co., a South Korean wood materials company.
Kotkamills Imprex produces laminating paper products for the laminating and plywood industries.
The transaction has been completed on October 31, 2017. The enterprise value (on a debt and cash free basis) of Kotkamills Imprex Oy is EUR 27 million (roughly C$40 million).
The disposal improves the Kotkamills group’s cash position and operating profit, but Kotkamills Group Oyj does not expect it to have significant impact on the issuer’s balance sheet.
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