In a statement made via the ASX today, HGL Limited today announces Createc Pty Limited, a 50% joint venture company in the printing sector, has sold its business and most of its assets to Neopost Australia.
The carrying value of Createc, in the books of HGL, was written down to $nil in the half year ended 31 March 2014. The transaction will not have a material impact on HGL’s results for the year ending 30 September 2014.
This sale marks another step in the execution of our strategy plan, transforming HGL’s diversified industry footprint to actively participate in selected industries with strong long-term growth potential.
Peter Miller
Chairman
HGL Ltd
We hope to bring you more details as they are released by Neopost Australia.
