BERLIN (dpa-AFX) - Heidelberger Druckmaschinen AG (HBGRF.PK) agreed to sell the German-Swiss Gallus Group to the Swiss packaging group benpac holding.
With an agreed price of about 120 million euros, Heidelberg expects the deal to generate earnings in the mid double-digit million-euro range. The sale is set to take effect before the end of 2020.
Up on completion of the transaction, Gallus Holding AG, Gallus Ferd. Ruesch AG, Gallus Druckmaschinen GmbH, Heidelberg Web Carton Converting GmbH or WCC and Menschick Trockensysteme GmbH, with a total of five sites in Germany and Switzerland and around 430 employees, will be transferred to benpac holding ag.
The Gallus companies develop and produce conventional and digital narrow web presses for label printing and screen-printing plates. WCC provides high-end web offset printing solutions for folding carton printing.
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