Sonae announces completion of the sale of two plants in France

May 8, 2014 | Board Manufacturers | 0 comments

PORTUGAL – Sonae Indústria, SGPS, SA informs that, further to the announcement of 17 March, its indirect affiliate, Isoroy SAS.

Has completed the sale to Kronospan of the businesses and assets relating to its Auxerre and Le Creusot plants located in France, including the transfer of the employees dedicated to those businesses.

As such, from the 1st of April onwards, the contribution of the aforementioned two board manufacturing plants will no longer be considered in Sonae Indústria group’s consolidated results. As mentioned in the announcement of 17 March and based on the consolidated accounts of 31 December 2013, Sonae estimates that this transaction will have a neutral impact on the consolidated shareholders’ funds of Sonae Indústria, SGPS, SA.

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