31st Jul 2018 09:57
LONDON (Alliance News) - Essentra PLC said Tuesday it has divested the trade and assets of Dublin, Ireland-based paper merchant unit Swiftbrook to Graphic & Paper Merchants Holdings Ltd for an undisclosed sum.
"The sale of our Swiftbrook business is reflective of the portfolio assessment which we are continuing to undertake, to ensure that we focus both our people and investment resource on those activities where we have identified that Essentra has real strategic strengths." Essentra Chief Executive Paul Forman said.
In 2017, the Swiftbrook business generated revenue of EUR4.4 million.
Shares in the plastic and fibre products supplier were down 1.4% at 496.00 pence each on Tuesday morning.
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