Astrapak to sell Hilfort Plastics Cape Town

Astrapak (APK) said on Wednesday, 18 June 2014, it was in the process of signing an agreement to sell its Hilfort Plastics Cape Town business to Boxmore Plastics SA.
Astrapak to sell Hilfort Plastics Cape Town

Hilfort Cape Town operates in and around Cape Town and manufactures and sells predominantly rigid plastic containers (bottles and jars) and accompanying closures to wide range of markets including the food‚ beverage‚ wine and chemical industries. This market has become increasingly competitive in Cape Town‚ hence the need for the disposal.

Astrapak said the transaction should enhance its financial performance. Its share price ended 1.39% weaker at R7.10 on Wednesday.


 
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