Ringier sells printing company in Hong Kong
Ringier verkauft Ringier Print Hong Kong per 21. Oktober 2011 an die Hong Kong Economic Times Holding. Die gesamten Operationen und die rund 150 Mitarbeitenden werden zu 100 Prozent vom Käufer übernommen.
Ringier founded Ringier Print Hong Kong, which specializes in magazine printing, in 1987 as a 50:50 joint venture with Times Publishing Singapore, the media company said in a statement Friday. In 2001, Ringier then acquired the 50 percent shares of Times Publishing Singapore, making Ringier the sole owner of Ringier Print Hong Kong.
In the wake of the changed situation in the global printing market, Ringier has successively focused on consolidating its printing business in its home market and on newspaper printing at selected international locations, the statement added. The sale of Ringier Print Hong Kong is a further consistent step on this path and underscores the ongoing implementation of the Group's strategy with its focus on the three areas of publishing business, eCommerce and entertainment. The parties have agreed not to disclose the purchase price.
