WSOY to sell Lönnberg Painot
WSOY, part of the SanomaWSOY Group, will sell its subsidiary Lönnberg Painot Oy to AV Holding Oy and the company's acting management. The deal is effective on 31 October 2005, and includes both units of Lönnberg Painot, F.G. Lönnberg and Mainos ja Etiketti. The gain on the sale of asset will amount to some EUR 4 million.
Net sales of Lönnberg Painot totalled EUR 17.6 million in 2004, and the number of personnel was about 164. The personnel will continue under current conditions. Lönnberg Painot is specialised in printing advertising materials, annual reports, and packages, among others.
- In its printing, WSOY will now concentrate on printing books at WS Bookwell Oy. In line with the international expansion of our educational publishing commencing a year ago, we started to focus our businesses. Today we have a good, strong basis for developing publishing, both in Finland and elsewhere in Europe, says Jorma Kaimio, President of WSOY.