Ekotechnika AG
Ekotechnika AG divests forestry machinery business
DGAP-News: Ekotechnika AG
/ Key word(s): Disposal
Ekotechnika AG divests forestry machinery business Walldorf, 20 August 2021 – Ekotechnika AG (primary market; ISIN: DE000A161234), the German holding company of the largest dealer of international agricultural machinery in Russia, has announced the sale of Ambitech, the subsidiary that is responsible for the distribution of forestry machinery from Canadian manufacturer Tigercat Industries. The parties agreed not to disclose the terms of the signed purchase agreements. The Group’s operating company, EkoNiva-Technika, had entered into a partnership with Tigercat in November 2018 to build up forestry machinery operations in the regions served by the Ekotechnika Group. As part of its strategic plans for the future, the Executive Board has now decided to pave the way for a further expansion of the cooperation with the Group’s traditional main supplier, the U.S. John Deere Group, thus further extending the long-standing successful cooperation in the agricultural machinery sector. The forestry machinery segment recently represented only around 4% of the Group’s total sales revenues and has not made a positive contribution to earnings so far. About Ekotechnika Press / Investor Relations
20.08.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Ekotechnika AG |
Johann-Jakob-Astor-Str. 49 | |
69190 Walldorf | |
Germany | |
Phone: | +49 (0) 6227 3 58 59 60 |
E-mail: | info@ekotechnika.de |
Internet: | www.ekotechnika.de |
ISIN: | DE000A161234 |
WKN: | A16123 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich |
EQS News ID: | 1227949 |
End of News | DGAP News Service |