Nampak Limited - Disposal Of The `Short Run` Plastic Packaging Business
NAMPAK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/008070/06)
(`Nampak`)
ISIN : ZAE 000004933
Share code : NPK
PRESS RELEASE
NAMPAK LIMITED-DISPOSAL OF THE `SHORT RUN` PLASTIC PACKAGING BUSINESS
Nampak Limited - the South African-based international packaging group -
announces the disposal by its UK subsidiary, Nampak Plastics Europe Limited, of
its European `Short Run` plastic packaging business to RPC Group plc for 23
million. This takes immediate effect and is in line with Nampak`s stated
strategy of resolving the performance of the `Short Run` business through an
industry solution.
The `Short Run` business comprises 7 factories in the UK, France, Holland and
Belgium with sales of approximately GBP75m. The business serves the automotive
oil, agrochemical and industrial chemical markets which are more closely aligned
to sectors served by RPC. The transaction is expected to be marginally headline
earnings accretive for Nampak.
Nampak remains committed to supporting its `Long Run` plastic packaging business
in the UK which serves mainly the fresh milk market. Operating from 6
factories, it supplies most of the major dairy groups and retailers with blow-
moulded plastic bottles and is the leading supplier in this market.
The industrial property owned by the business in Woburn Sands has been retained
and Nampak is in negotiations with a developer to dispose of this property for
residential development. The profit from this transaction is expected to be
earnings enhancing for Nampak.
The proceeds from both these disposals will be used to repay debt and fund
investments.
SANDTON, SOUTH AFRICA
1 NOVEMBER 2004
ENQUIRIES :
John Bortolan
CEO - Nampak Ltd Tel. +27 11 719-6388
Rob Becker
Executive Director: Finance Tel. +27 11 719-6588
Nampak Ltd
Graham Hayward Tel. +27 11 719-6320
Investor Relations
Date: 01/11/2004 09:01:19 AM
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