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Heidelberg Announces Sale Of Hi-Tech Coatings - Quick Facts

Heidelberger Druckmaschinen AG (HBGRF.PK) announced it has sold Hi-Tech Coatings unit to Innovative Chemical Products Group's ISG division. The purchase price was 38.5 million euros. Heidelberg expects the sale to generate non-recurring income of around 20 million euros. Three sites and a total of around 60 employees will be transferred to ICP's ISG division.

The company said the divestiture is a part of its initiative to focus on core activities and portfolio adjustments. The transaction is expected to be effective in 2019.

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