Brødrene Hartmann A/S has sold its total shareholding in Uniscrap A/S Genvindingsindustri at a price of DKK 30.0 million to InvestMiljø A/S.
The Uniscrap activities are directed towards recovery of primarily iron, other metals and paper where paper comes to approx. 10-15% of the turnover.
The shareholding consists of 2,250,000 A shares and 6,000,000 B shares and represents totally 41.25% of the share capital in Uniscrap.
Sale of the shares will result in a gain from the disposal of approx. DKK 10.0 million which will be posted in its entirety directly on the capital and reserves as a reversal of previous, immediate writedown of group goodwill.
Uniscrap and Hartmann will continue the close cooperation regarding supply of recycled paper to the Hartmann factories in Denmark.
Originally Hartmann acquired the Uniscrap shares to ensure raw material supply, but was later initiator in the establishment of Danfiber A/S who has specialised in transaction of recycled paper. Hartmann's shareholding in Danfiber and the continued good cooperation with Uniscrap will thus
ensure the future raw material supply to Hartmann.
Yours sincerely
Brødrene Hartmann A/S
Asger Domino
President & CEO
The press release can be downloaded from the following link:
