WENDEL : Constantia Flexibles sells folding carton business in Mexico
Wendel welcomes the sale by Constantia Flexibles of its non-core folding carton division in Mexico, Aluprint Plegadizos, to Mexican company Grupo Gondi. The transaction is subject to anti-trust approval from the Mexican authorities and is expected to be completed in the coming months.
Aluprint Plegadizos is located in San Luis Potosi, and has approximately 600 employees. It manufactures folding cartons and high graphics micro-corrugated boxes for the fast moving consumer goods markets of Mexico, the United States, Canada, Central America and the Caribbean.
Constantia Flexibles acquired Aluprint Plegadizos as part of the takeover of Globalpack in 2013. This was the only folding carton business within Constantia Flexibles and was not considered part of the core flexible packaging and labels activities. Mexico remains a key production hub for the group, with its site in San Luis Potosi for flexible packaging and Monterrey for labels.
This disposal is fully in line with Constantia Flexibles' profitable growth strategy. Wendel is the main shareholder of Constantia Flexibles with 61.1% of its share capital.
Financial calendar
6/1/2016
Shareholders' Meeting /publication of NAV and trading update (before Shareholders' Meeting)
In Paris
9/8/2016
H1 2016 earnings / Publication of NAV (pre-market release)
By conference call
12/1/2016
2016 Investor Day / publication of NAV and trading update (pre-market release)
In London
About Wendel
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and AlliedBarton Security Services. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of exceet in Germany, Mecatherm in France, Nippon Oil Pump in Japan, Saham Group in Africa and CSP Technologies in the United States.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: Long-term: BBB-, stable outlook - Short-term: A-3 since July 7, 2014. Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.
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Press contacts
Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24
c.anglade@wendelgroup.com
Caroline Decaux: +33 (0)1 42 85 91 27
c.decaux@wendelgroup.com
Analyst and investor contacts
Olivier Allot: +33 (0)1 42 85 63 73
Elisa Muntean: +33 (0)1 42 85 63 67
e.muntean@wendelgroup.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: WENDEL via GlobeNewswire
