Balda: Sells Infocom Business Again
Balda AG has sold the European infocom business that was reacquired earlier this year via an asset deal transaction, effective as of May 1, 2008. Buyer is Heinze Solutions GmbH, which belongs to Hanse Industriekapital-Beteiligungs GmbH (HanseIK), Hamburg. Subject of the sale is the operation of Balda Solutions Deutschland GmbH in Bad Oeynhausen, Germany. The operation of Balda Werkzeugbau GmbH in Bad Oeynhausen is simultaneously being sold to Heinze Werkzeugbau GmbH.
HanseIK is well positioned in the plastics processing and surface technology. The company had early 2007 already bought from Balda the Balda-Heinze GmbH & Co. KG and HeRo Galvanotechnik GmbH as well as the Sächsische Metall- und Kunststoffveredelungs GmbH (SMK). The contractual partners have agreed to maintain silence with respect to the purchase price and other details of the agreement. The impact on liquidity for Balda in the high single-digit million euros range in compensation for its business segment in deficit is in line with expectations.
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