SIG divests to concentrate on core business
filling equipment) andSIG Alfa (labelling machines) to the Tetra
The move signals SIG's continuing focus on its core business of aseptic beveragecartons and the growing market of value added beverages packaged in plastic bottles.
An agreement between Tetra Laval and SIG Holding was signed yesterday, though the transaction still requires the approval of the anti-trust authorities. The parties haveagreed not to disclose the selling price.
SIG Group executive management believes that Tetra Laval will continue to develop the business activities of Simonazzi and Alfa. The strategic focus has led to an almost complete amortisation 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 BeveragesDiscontinuing.
Further details will be provided by the group within the scope of the publication of the annualStatement scheduled for 8 March 2005.
SIG is an international provider of aseptic beverage cartons and packagingequipment for value added beverages and liquid food. In 2004, SIG Simonazzi and SIG Alfa, with a total of about 1,500 employees, generated net sales of about €320 million.