Heidelberg Announces Sale Of Hi-Tech Coatings - Quick Facts

By RTTNews Staff Writer ✉ | Published: 11/21/2019 12:46 AM ET

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Biotech Stocks PDUFA COVID 19 Vaccines peanut allergy Trelegy Ellipta Pain drug exertional heatstroke allergic conjunctivitis

Biotech Stocks Facing FDA Decision In August 2020

New Drugs Approved In June

Coronavirus Vaccines In Human Trials COVID19 Antibodies Spike Protein US Operation Warp Speed

Tracking Coronavirus Vaccines In Human Trials

Editors Pick

Facebook Releases Instagram Reels

Facebook has unveiled Instagram Reels as its answer to the popular Chinese-owned video app TikTok. The social media giant said in a blog post that Instagram Reels is a new way to create short, entertaining videos on Facebook's photo-sharing app Instagram. Facebook reportedly shut down its TikTok clone Lasso in July, ahead of the launch of Instagram Reels.

WD-40 Company Recalls About 130k Units Of X-14 Mildew Stain Remover

WD-40 Company recalled about 130,000 units of X-14 Mildew Stain Remover for potential risk of skin irritation, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said pressure can build up inside the bottle and cause it to fall over and leak, posing a risk of skin irritation.

Bristol-Myers Slips To Loss In Q2, But Results Top Estimates

Biopharmaceutical company Bristol-Myers Squibb Co. on Thursday reported a loss for the second quarter, compared to a profit last year, hurt primarily by hefty amortization expenses. However, adjusted earnings per share and quarterly revenues topped analysts' expectations. Looking ahead, the company raised its adjusted earnings and revenue outlook for the full-year 2020.