Arbonia will have completed its relocation of wood/vinyl window production from Altstätten (CH) to Wertbau, Thüringen (D), by the end of 2017. Relocating production to other European countries has decreased demand for production space and plot areas at EgoKiefer in Altstätten.
Alexander von Witzleben, CEO and Chairman of the Board of Directors of Arbonia, is convinced that Valrheno will realise future-oriented projects for the region, adding: “For our EgoKiefer, Switzerland’s market leader for windows, we will announce shortly a new state-of-the-art location in St. Gallen’s Rheintal as the headquarters, in which we will invest several millions.”
Both parties have agreed to remain silent regarding the purchase price. Thesales proceeds will be used to reduce the net indebtedness of Arbonia AG.
With this sale, Arbonia is pursuing its announced strategy to divest non-essential properties as quickly as possible with maximum profit.
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