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HAKI Safety's divestment of FAS Converting Machinery finalised

HAKI Safety has finalised the divestment of FAS Converting Machinery.

The operation is part of the Industrial Services business area and is deconsolidated in January 2024. It had annual sales of approximately SEK 86 M in 2022. The purchase price amounts to USD 3.7 M on a debt-free basis, subject to working capital adjustments. The transaction will not have any significant impact on the group's profit after tax. The group's cash flow and net debt will be affected positively with an amount corresponding to the purchase price. The buyer is the American company CMD Corporation.

The press release on the agreement on the divestment was published on December 29, 2023.

For more information, contact

Sverker Lindberg, President and CEO
Email: sverker.lindberg@hakisafety.com
Phone: +46 40 30 12 10

Tomas Hilmarsson, CFO
Email: tomas.hilmarsson@hakisafety.com
Phone: +46 40 30 12 10

About HAKI Safety AB (publ)

HAKI Safety (formerly Midway Holding) is an international industrial group, focusing on safety products and solutions that create safe working conditions at temporary workplaces. The group has annual sales of about 1.2 billion SEK and has since 1990 been listed on the Nasdaq Stockholm Small Cap. HAKI Safety offers a full range of products and solutions within system scaffolding, work zone safety, digital solutions, and technical support that help customers achieve maximum safety and efficiency in their environments.

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HAKI Safety's divestment of FAS Converting Machinery finalised

Source:MFN
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