M-real has sold its Petöfi Nyomda Kft carton plant in Hungary to the German STI Group under a share sales agreement as part of its restructuring programme.
Combined with disposal of the carton plant in Finland in May the transactions are worth €35m, however, M-real will book a loss of approximately €2m. Negotiations about the future of its carton plant in Belgium are continuing.
The Petöfi carton plant produces consumer packaging products for the pharmaceutical, consumer electronics and other industries employs 420 staff. The sale of the two plants reduce the annual sales of M-real by €55m. The divestments are part of M-real’s restructuring programme, which was announced last October.
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