- Net proceeds from the sale in the upper double-digit million euro range
- Proceeds increase financial leeway
Fulda, 21 April 2023 – KAP AG (“KAP”), a listed, medium-sized industrial holding company (German securities identification number: WKN 620840; ISIN DE0006208408), today closed the announced sale of a subsection of its flexible films segment to Kingspan Holding GmbH, a company of Kingspan Group Plc., Ireland. The sold operating companies are CaPlast Kunststoffverarbeitungs GmbH with its investee AerO Coated Fabrics B.V. and NOW Contec GmbH & Co. KG. The net proceeds from the sale are in the upper double-digit million euro range.
Eckehard Forberich, member and Spokesman of the Management Board of KAP AG: “With the divestment, KAP is continuing to follow its strategy as planned and increasing its financial flexibility. A significant portion of the proceeds from the sale will be reinvested in other segments and sub-segments in a timely manner to strengthen the respective market position and position us even more robustly against the background of uncertain markets. In doing so, we continue to pursue the purpose of sustainable value enhancement in the interests of our shareholders.”
The flexible films segment still includes the investees Haogenplast Ltd, Elbtal Plastics GmbH & Co. KG and Riflex Film AB, focusing on swimming pool liners and other high-quality specialty films.
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About KAP AG
KAP AG is a listed industrial holding company focused on upper mid-size operating companies that seizes attractive growth opportunities in their respective niche markets. Specifically, KAP AG currently focuses on four distinct operating segments: engineered products, flexible films, surface technologies and precision components. The Group lets its shareholders participate in the long-term sustainable value development through an attractive dividend. KAP AG currently has some 2,900 employees at 28 locations in twelve countries. KAP AG is a Participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. KAP AG’s shares are listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard, ISIN DE0006208408).