The Management Board of Grupa Kęty S.A. hereby informs that, on 16 December 2015, the Company disposed of its 100% stake in the share capital of Alupol LLC with its registered office in Borodianka in Ukraine for the amount of 12,187,900.00 PLN to Aluform Sp. o.o. with its registered office in Tychy (a wholly-owned subsidiary of Grupa Kęty S.A.). The initial value of the sold shares was 63,499,876.00 PLN and, as a result of the devaluation of hryvnia and write-downs made in previous years, the value of these shares in the books of account of Grupa Kęty S.A. as at the date of the sale decreased to 12,187,900.00 PLN.
Alupol LLC is a company manufacturing aluminium profiles for the Ukrainian, Russian and Polish markets. Annual sales for 2015 will amount to the equivalent of ca. 27 million PLN.
This event is the result of the implementation of the strategy for 2015-2020, stipulating the reorganisation of the Capital Group’s structure, which involves e.g. the granting of legal personality to the Extruded Products Segment, which, with its production capacity of ca. 65 thousand tons, is one of industrial leaders in Europe.
In the opinion of the Management Board, the aforementioned measures will help build, within the Capital Group, the next strong brand, apart from the ones already existing in the Group, such as: ALUPROF in the Aluminium Systems Segment and ALUPOL PACKAGING in the Flexible Packaging Segment.
The absorption by the Extruded Products Segment in Grupa Kęty S.A. of Alu Trans System Sp. z o.o. (a wholly-owned subsidiary of Grupa Kęty S.A.) specialising in the production of transport-related aluminium systems, will become another element of the process of the reorganisation of the Capital Group’s structure.
The expected date of the completion of the process of granting legal personality to the Extruded Products Segment is 2018.
