logo
Plus   Neg
Share
Email

Heidelberger Druckmaschinen To Sell Gallus Group To Benpac Holding

Heidelberger Druckmaschinen AG (HBGRF.PK) agreed to sell the German-Swiss Gallus Group to the Swiss packaging group benpac holding.

With an agreed price of about 120 million euros, Heidelberg expects the deal to generate earnings in the mid double-digit million-euro range. The sale is set to take effect before the end of 2020.

Up on completion of the transaction, Gallus Holding AG, Gallus Ferd. Ruesch AG, Gallus Druckmaschinen GmbH, Heidelberg Web Carton Converting GmbH or WCC and Menschick Trockensysteme GmbH, with a total of five sites in Germany and Switzerland and around 430 employees, will be transferred to benpac holding ag.

The Gallus companies develop and produce conventional and digital narrow web presses for label printing and screen-printing plates. WCC provides high-end web offset printing solutions for folding carton printing.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT