Hartmann sells its shares in Celulosas Moldeadas Hartmann S.A.

Brødrene Hartmann A/S has sold its entire shareholding in Celulosas Moldeadas Hartmann S.A. (Cemosa), Spain for DKKm 30 to Cemosa's majority shareholder. The sale is a natural part of Hartmann's Focus Plan and at the same time it meets the majority shareholder's wish to obtain 100% ownership of the company.

 

The shareholding has a nominal value of EUR 768,532 and represents 18.4% of the share capital.

The annual dividends have been less than DKKm 1.

 

The sale of shares will result in an accounting gain of approx. DKKm 19, which will affect Hartmann's net result for 2005 and further have a positive effect on the company's liquidity with approx. DKKm 30. The sale is already included in the Group's overall expectations for 2005, announced in conjunction with the presentation of the annual accounts for 2004 on 15 March 2005.

 

 

Brødrene Hartmann A/S

 

 

Bjarne Eriksen                                       Asger Domino

Chairman of the Board of Directors        President and CEO

 

 

 

The press release can be downloaded from the following link: