https://www.engineeringnews.co.za

Astrapak disposes of Hilfort divisions for R41m to Boxmore

Astrapak disposes of Hilfort divisions for R41m to Boxmore

Photo by Bloomberg

3rd December 2014

By: Tracy Klückow

Creamer Media Contributing Editor

  

Font size: - +

Boxmore Plastics SA has acquired packaging group Astrapak’s Hilfort Plastics Bloemfontein and Upington divisions for R41-million cash.

The amount will be paid by close of business on Friday and will be applied to reduce Astrapak's net borrowing position, Astrapak said on Wednesday, adding that the decision to dispose of Hilfort complemented Astrapak's strategic objective to focus on operations of scale.

“The plastic packaging market remains highly competitive; the fundamentals continue to change rapidly and remain sustainable, the single most important factor is operational scale,” said Astrapak CEO Robin Moore in a statement.

To date, Hilfort’s net assets were worth about R28-million and the yearly net profit after tax attributable to these net assets was about R5.3-million.

Hilfort operates in both Bloemfontein and Upington and manufactures and sells polyethylene terephthalate plastic bottles to segments within the beverage industry.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.058 0.959s - 142pq - 2rq
Subscribe Now