Ten Cate finalizes divestment Plasticum with a positive result

With reference to the press release of February 27 last, Royal Ten Cate and NPM Capital announce the closing of the sale of Plasticum to NPM Capital and the management.

The company Plasticum formed part of the sector Technical Components of TenCate. TenCate Enbi and a minor part (Business Key in Spain) of the Mega Valves group, formerly owned by TenCate, are still operating within this sector.

The divestment took place against book value.

There will be a positive result from a relief of the pension provision (IAS 19). The amount has not been finalized yet and will be published with the second quarter results.