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Low & Bonar to sell rotational moulding to private equity
The board of management of Low & Bonar (www.lowandbonar.com), Dundee / Scotland, a manufacturer of flexible floor coverings, manmade fibres and technical fabrics, plans to sell the company's rotational moulding segment, Bonar Plastics, to Icelandic private equity group Atorka (www.atorka.net), Reykjavik, for EUR 25.8m (EUR 37.2m). Official buyer of one of the biggest rotational moulders in Europe with annual sales of GBP 59.2m (EUR 85.3m) and 12 production plants is Atorka subsidiary Promens The Icelandic investor is already the largest shareholder of Low & Bonar since acquiring additional shares in April of this year from the previous majority shareholder, Schroder Investments, thereby lifting its stake to 21.2%.
27.07.2005 Plasteurope.com [10780]
Published on 27.07.2005