VANTAA, FINLAND, 2013-09-18 08:00 CEST (GLOBE NEWSWIRE) --
The divestment of Ramirent’s Hungarian operations, announced on 8 August 2013, has now been closed. Ramirent sold its operations in Hungary to the Danube SCA Sicar, a private equity fund.
The transaction includes entire Hungarian operation with forecasted Net sales for 2013 of EUR 7 million. As stated in the previous announcement, the transaction will result in a non-recurring cost due to foreign exchange translation differences of approximately EUR 2 million, which will be recognised in other operating expenses in the third quarter 2013.
The divestment strengthens Ramirent’s strategic focus on company’s core markets in the Baltic Sea region.
Vantaa, 18 September 2013
President and CEO
Magnus Rosén, President and CEO,
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Jonas Söderkvist, CFO and EVP Corporate Function,
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Ramirent Plc is a leading equipment rental group delivering Dynamic Rental Solutions™ that simplify business. We serve a broad range of customers, including construction and process industries, shipyards, the public sector and households. In 2012, the Group’s net sales totalled EUR 714 million. The Group has more than 2,700 employees at 325 customer centres in 10 countries in the Nordic countries and in Central and Eastern Europe. Ramirent is listed on the NASDAQ OMX Helsinki Ltd.