Heidelberger Druckmaschinen AG / Key word(s): Disposal/Strategic Company Decision
Following a competitive auction process, Heidelberger Druckmaschinen AG (Heidelberg), through its subsidiary Heidelberg Graphic Equipment Ltd., signed a purchase agreement today with real estate developer Fairview New Homes Ltd. (Fairview) regarding the sale of its property in Brentford (UK). The sold property is located between London City and Heathrow Airport and currently serves as Heidelberg's UK customer and sales headquarter. The new UK customers headquarter is scheduled to move to West London prior to the end of 2021.
Information and Explanation of the Issuer to this News:
The sales and service organization of Heidelberger Druckmaschinen AG (Heidelberg) in the UK is continuing to optimize its customer approach in this important print market. Having already established its new logistics center in Leighton Buzzard in February this year, from where customers can be supplied with spare parts and consumables more quickly and flexibly, the company is now also planning to relocate its customer headquarters in West London. This will make it more convenient and efficient for all customers to reach Heidelberg's sales and service headquarter, back-office functions and also the showroom in the future. The move is scheduled to take place before the end of the 2021 calendar year.
The property in Brentford - located between London City and Heathrow Airport - was sold to the real estate developer Fairview New Homes Ltd. (Fairview). A corresponding purchase agreement was signed today. Fairview is a British developer of high-quality residential units and houses in London, founded in 1961. Heidelberg expects the transaction, with an agreed purchase price in the mid-double-digit million-euro range, to take effect in the last quarter of 2021.
'The relocation of the sales and service headquarters and the warehouse will enable us to serve our customers in the UK even more efficiently in the future,' said Rainer Hundsdörfer, Heidelberg's CEO. 'In addition, the disposal of the vacated property in Brentford is an important step in the ongoing adjustment of our structures. By using space more efficiently, we will save considerable costs at Heidelberg in the future. We will use the funds thus freed up to strengthen our liquidity and continue to drive forward strategic investments for the future on the path of our digital transformation.'
Heidelberg has around 160 employees serving around 1,400 customers in the UK and Ireland. The market is one of Heidelberg's top 10 markets.
Image material and additional information about the company are available in the Investor Relations and Press Lounge of Heidelberger Druckmaschinen AG at www.heidelberg.com.
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15-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Heidelberger Druckmaschinen AG
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