Bong Ljungdahl: CLARIFICATION: Bong’s Luxembourg Transaction limited a Tycon

February 3rd, 2010 by admin




 

Referring to the press release Bong to February 1 for the redemption of Tycon in Luxembourg, Bong (STO: Bong) hereby wishes to state that the agreement includes only Tycon, a production unit specializing in the conversion of materials in Tyvek ® envelopes and packaging solutions.The plant DuPont Tyvek ®, also located in Luxembourg, is not involved in the operation, but remains the leading supplier of Tyvek ® unique material to Tycon.Tycon has about 20 employees and specializes in processing materials Tyvek ® for different types of envelopes and packaging solutions. The transaction is expected to contribute positively to Bong results from the first quarter of 2010.Tyvek ® is a spunbonded polyethylene material developed and manufactured by DuPont. It is light, thin and flexible but extremely durable. Tyvek ® is, for example, tear and water resistant and therefore perfectly suited for protective envelopes and postal packaging solutions. In addition, it is easily recycled.Since fall 2009, Bong has signed an exclusive agreement with DuPont for the processing and distribution of Tyvek ® envelopes and packaging solutions in Europe.Bong is a European supplier of packaging solutions and specialty envelope products and provides distribution solutions and market information, advertising materials and lightweight goods. Two areas of significant growth in the group are ProPac new packaging concept and Russia. The Group has annual sales of approximately SEK 2 billion and 1,200 employees in some 12 countries. Bong has a strong position in the market, particularly in Northern Europe and the Group sees attractive opportunities for expansion and development. Bong is a public company whose shares are traded on the NASDAQ OMX Nordic Stock Exchange Stockholm

Posted in Business

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.

About Luxembourg

Luxembourg lies on the cultural divide between Romance Europe and Germanic Europe, borrowing customs from each of the distinct traditions. Luxembourg is a trilingual country; French, German, and Luxembourgish are official languages. Although a secular state, Luxembourg is predominantly Roman Catholic.