European purchase
Office World News, Oct 1999
BRATTLEBORO, VT-FiberMark has announced the acquisition of Papierfabrik Lahnstein GmbH, a European specialty fiber-based materials manufacturer headquartered near Frankfurt, Germany with annual revenues of approximately $36 million. Effective August 1, 1999, the acquisition, with a purchase price of approximately $22 million, was financed with $7 million of cash reserves and $15 million in German bank debt.
Due to the typical seasonal sales slowdown in Europe in the second half of the year, the anticipated effect of the Lahnstein acquisition on FiberMark's 1999 results should be neutral to slightly positive.
Copyright B U S Publishing Group, Inc. Oct 1999
Provided by ProQuest Information and Learning Company. All rights Reserved
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