HANZA continues to streamline operations – divests plant in Finland
HANZA is selling its minor plant in Northern Finland as part of the company’s strategy to streamline operations. The buyer is the Finish heavy mechanics manufacturer Laser Steel, which also enters a strategic cooperation with HANZA.
HANZA Holding AB (publ), listed on Nasdaq First North Stockholm, has signed an agreement to sell its production plant in Kokkola, Finland, to the local manufacturer Laser Steel Oy. The Kokkola plant offers heavy mechanics manufacturing and employees 15 people. Through the deal, HANZA and Laser Steel initiate a strategic cooperation in order to execute different volume requirements.
“The divestment is consistent with our strategy to streamline operations and focus on mid-size and large-size customers. We are pleased to transfer our business to a reliable partner, which ensures optimal continuity for customers and employees”, says Erik Stenfors, CEO HANZA.
“We are glad for this opportunity to expand our manufacturing to two factories in Kokkola. Our strategic cooperation with HANZA will also lead to new possibilities”, says Jussi Tuominen, CEO Laser Steel.
The plant will be transferred to Laser Steel during October. The financial terms of the transaction are not disclosed, however, the business transfer is done through an asset deal, and will only affect the HANZA Group sales and earnings marginally.
For more information please contact:
Erik Stenfors, CEO, Phone: 46 8 624 62 00, email: firstname.lastname@example.org
The information in this press release is such that HANZA must disclose it in accordance with the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13.45 am (CET), October 16, 2015. Erik Penser Bankaktiebolag is the company's certified adviser.
This press release may contain certain forward-looking statements that reflect HANZA’s current views of future events and financial and operational performance. Words such as "intends", "anticipates", "expects", "may", "plan ", "anticipate" or similar expressions regarding indications or predictions of future developments or trends, and are not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it is dependent on future events and circumstances. Forward-looking statements are not guarantees regarding future results or developments and actual results may differ materially from those set forth in forward-looking information.