Maersk sells plastics unit

MAERSK    MERGER   

Global - A.P. Moller-Maersk will sell its Rosti Technical Plastics (RTP) Holding unit to Swedish private equity firm Nordstjernan as part of the company's strategy to sell off non-core assets.

The Journal of Commerce reported that Nordstjernan will merge RTP with its Stella Plastic Holding AB unit to create a company with an annual turnover of US$226 million, hiring approximately 1,800 employees.

RTP, which produces injection-moulded plastic products for various industries, raked in sales amounting to US$168.8 million in the last 12 months, said Nordstjernan.
 
Nils Smedegaard Andersen, CEO of Maersk said earlier this week that the company will target spending on its oil and gas business, its container-handling terminals and on retailing.

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