Contract signing: SIG
sells Simonazzi and Alfa to Tetra Laval
News Archives - SIG is selling the Italian companies
SIG Simonazzi (beverage filling equipment) and SIG Alfa
(labeling machines) to the Tetra Laval Group. With this move, SIG
is continuing its focus on the core business of aseptic beverage cartons
and the growing market of value added beverages packaged in plastic bottles.
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Parma, Italy - March 3, 2005 - Jobwerx News - An agreement
between Tetra Laval and SIG Holding Ltd. was signed on March 2, 2005.
The transaction still requires the approval of the anti-trust authorities.
The parties have agreed not to disclose the selling price.
In 2004, SIG Simonazzi and SIG Alfa, with a total of about 1500 employees,
generated net sales of about EUR 320 million.
SIG Group Executive Management is confident of having found in Tetra
Laval a buyer that possesses all the prerequisites for successfully
continuing to develop the business activities of Simonazzi and Alfa.
As announced earlier, the strategic focus has led to an almost complete
amortization of the goodwill of the SIG Beverages division, as well
as a strongly negative operating and net profit for the Group in 2004.
SIG is currently negotiating with several interested parties the sale
of the companies Comaco and Manzini (processing equipment), which belong
to the segment SIG Beverages Discontinuing.
Further details will be provided by the Group within the scope of the
publication of the Annual Statement scheduled for March 8, 2005.
SIG is an international provider of aseptic beverage cartons and packaging
equipment for value added beverages and liquid food.
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SIG Holding Ltd., Tetra Laval Group
