Sonae Ind, agreement for the sale of hardboard business at Betanzos plant

Sonae Indústria, SGPS, SA announces  that its indirect affiliate, Tafiber, Tableros de Fibras Ibéricos, S.L., has entered into an agreement for the sale of the hardboard business operated at its plant located in Betanzos, Spain, including the transfer of the employees dedicated to this business.

This agreement also contemplates the lease of the real estate where the industrial unit is located, property of another indirect affiliate of Sonae Indústria. It is envisaged that t he present transaction will have no impact on the consolidated shareholders’ funds of Sonae Indústria, SGPS, SA.

The completion of the transaction is subject to certain conditions, mainly related with the transfer of administrative authorisation, and is expected to take place during the course of the next  few weeks.

The decision to sell the hardboard business of Betanzos plant is aligned with Sonae Indústria’s strategy of optimizing its industrial footprint.