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DGAP-Ad-hoc News vom 18.10.2018

Mayr-Melnhof Karton AG: Mayr-Melnhof Group acquires TANN Group

Mayr-Melnhof Karton AG / Key word(s): Takeover
Mayr-Melnhof Karton AG: Mayr-Melnhof Group acquires TANN Group

18-Oct-2018 / 19:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Mayr-Melnhof Packaging has come to an agreement with the owners of TANN Group on the 100% acquisition of the group headquartered in Traun, Austria.

TANN Group prints on and finishes externally sourced fine paper to produce tipping paper (cigarette filter paper) and is the global market leader in this area. Annual sales of approximately EUR 230 million are generated by 8 production sites in 7 countries and a worldwide workforce of around 1,100 employees, who are taken over.

Through this acquisition MM Packaging extends its present position in cigarette packaging by the technologically closely related production of tipping paper. The aim is to further strengthen the profitability of MM Packaging along with the expansion of the value chain. Moreover, the development of the sites shall create new potential.

Pending the approval of the antitrust authorities the closing is expected by year-end 2018 or the beginning of 2019. The equity purchase price will amount to approximately EUR 275 million.

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A conference call on the TANN Group acquisition with the MM CEO Wilhelm Hörmanseder is scheduled for October 19, 2018 at 9:30 a.m. (CET). Details and presentation on our homepage http://www.mayr-melnhof.com.


For further information, please contact:
Stephan Sweerts-Sporck
Investor Relations
Mayr-Melnhof Karton AG
Brahmsplatz 6
A-1040 Vienna
Tel.: (+43/1) 50136 - 91180
Fax: (+43/1) 50136 - 91195
e-mail: [email protected]
Website
: http://www.mayr-melnhof.com


18-Oct-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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