The Slovenia Times

Helios reports higher sales, profit

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The group, whose takeover by Japan's Kansai Paint was completed last week, plans new investments and changes in the distribution network this year.

Helios, which currently employs more than 2,000 people, expects an improvement of the market conditions in the countries of the former Soviet Union and former Yugoslavia, the company has told the STA.

The biggest challenge for this year are the high prices of raw material, which according to the company have been growing for a long time and projections suggest that the trend will continue this year.

Helios was acquired by Kansai Paint in December based on an agreement with the then shareholders of Helios - Ring International Holding, Franklin Templeton and GSO of Blackstone. The value of the deal, which received regulatory approval last week, was EUR 572m.

As one of the companies slated for privatisation, Helios was acquired by Austria's Ring International in 2014 for EUR 145m, with the help of US funds Franklin Templeton and Blackstone. Ring also took on Helios's debt of EUR 105m and later merged it with its own coatings division. 

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