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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.
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