Plastivaloire: sale of Karl Hess finalized

(CercleFinance.com) - Plastivaloire announces that it has finalized the sale of 100% of its subsidiary Plastivaloire Germany GmbH, which owns the German company Karl Hess and the Pilsen production site in the Czech Republic, to Karl Hess's main manager.


The plastics manufacturer explains that this sale significantly reduces its financial risk by putting an end to the guarantee given to German banks on Karl Hess's bank debt, and by reducing its consolidated net financial debt by 34.4 million euros.

The exit from the sold perimeter (which represented around 90 million euros in sales) will have a one-off accounting impact of around -40 million on Plastivaloire's net income in 2023-24 (closing date September 30).

Copyright (c) 2024 CercleFinance.com. All rights reserved.