Pelikan buys stake in German Hardcopy
April
2007 PELIKAN International Corp Bhd has entered into an agreement to
buy 90 per cent of German Hardcopy AG for 6 million euros (RM27.6
million).
German Hardcopy will hold the remaining 10
per cent of its share capital.The purchase will be financed by
borrowings and internally generated funds. Payment will be made in
three tranches and is expected to be completed by the second quarter of
2007.It is expected to immediately increase Pelikan International’s
revenue by another RM110 million per year.Incorporated in Germany in
2000, German Hardcopy manufactures and distributes hardcopy-related
products such as inkjet, toner, thermal transfer, office media and
impact cartridges in Germany and international markets under the Geha,
Emtec, Boeder and I-change trademarks.