Consumables

Neschen AG sells HSW Signall s.r.o., Prague/Czech Republic

Friday 10. May 2013 - Neschen Benelux B.V., a wholly owned subsidiary of Neschen AG, has today signed an agreement to sell its 51 % investment in HSW Signall s.r.o. The closing of this transaction is scheduled for 28.03.2013. The purchase price has not been disclosed. The purchaser, VATELORUS a.s., is a financial investor based in Prague in which one of the former founders of HSW Signall has an equity interest.

The sale is the result of a comprehensive analysis of Neschen AG’s foreign business activities. The sale will have a positive influence on liquidity in Neschen AG’s group earnings and will already have an impact on the group’s report of first quarter earnings in 2013. In addition, both companies have arranged to further develop their joint business in digital print media.
HSW Signall s.r.o. is 51%-owned by Neschen Benelux B.V. and is based in Prague, Czech Republic. The company achieved a turnover of EUR 8.9 million in the financial year 2012 with an average of 41 employees and profit after tax of EUR 0.1 million. The main business activity of the company is the sale of printers and digital printing hardware as well as the related media.