Brief: Polytec Holding Signs Contract For Sale Of Interest In Polytec Industrial Plastics

Polytec Holding AG

03/11/2020 10:59

Nov 3 (Reuters) - POLYTEC HOLDING AG  POLV.VI :
    * TO PART WITH ITS ORIGINAL NICHE BUSINESS
    * GROUP SIGNED A CONTRACT FOR SALE OF ITS INTEREST IN
POLYTEC
INDUSTRIAL PLASTICS GMBH TO JOINT OWNER PETER STINSHOFF
    * ANTICIPATES A ONE-OFF CASH EFFECT OF APPROXIMATELY EUR 17
MILLION AND A RESULT EFFECT OF AROUND EUR 14 MILLION.
    * PLANNED CLOSING OF SALE WILL PROBABLY TAKE PLACE AT
BEGINNING OF
DECEMBER 2020.
    * CONCENTRATE FULLY ON ITS CORE AUTOMOTIVE SUPPLY INDUSTRY
BUSINESS AREA AND SALE WILL RESULT IN FURTHER CONSOLIDATION AND
SECURING OF AN ALREADY SOLID FINANCIAL BASIS

Source text for Eikon:  ID:nPexx1prNa 
Further company coverage:  POLV.VI 

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