PL  |  EN  |  UA

GCN 7.05 -0.16 -2.22%

Press releases


back

The sales of the business unit „Wiring & Controls“ is completed and Groclin Group is from today on a net debt free company with growth potential

Groclin Group has informed on the 13th of February that it had signed a contract to sell the Wiring & Controls business to PKC Group, a company listed on the Helsinki stock exchange.

The deal includes Kabel-Technik-Polska Sp. z o. o. (KTP), wich at the time of closing is owing the entire Wiring & Controls business.

The requirements of closing have been fulfilled and the closing is becoming effective and ownership and control of KTP has transferred on the 1st of July 2015.

The net debt free purchase price is 50 Million Euro.

From today on Groclin Group becomes a net debt free company, which gives us the opportunity to continue to invest into the growth of our core business, development and assembly of trim covers and seats.

The management will continue to put his focus on profitable organic growth and also growth by acquisitions.