Nordic Business Report-September 20, 2006-Schouw & Co A/S divests packaging business
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The Danish industrial group Schouw & Co A/S announced on Wednesday (20 September) that it has agreed to sell its 50% stakes in packaging company Elopak Denmark A/S in Denmark and Elopak AB in Sweden to the Norwegian Elopak group.
The sales consideration amounts to a total of DKK505m in cash.
Schouw & Co will retain the ownership of Elopak Denmark's factory property in Lystrup.
As a result of the deal Schouw & Co has upgraded its forecast for 2006 to a pre-tax result of approximately DKK630m. The forecast does not include the effect of Schouw & Co's holding in Vestas Wind Systems.
One Danish krone (DKK) is worth approximately 0.09 British pounds (GBP).
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