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VDI sells hygiene businesses to concentrate on its Batteries Division
On 2nd October, VDI Group announced that it had signed an agreement to divest part of its Health & Safety activity with the sale of all of its operations under the brand Direct Hygiene Industry. This amounted to about half of VDI's Health & Safety business and is part of the company's development strategy in the medium term, which is designed to enable it to focus on the batteries side of the business.
VDI confirmed this week that it sold its subsidiaries last Friday as follows: the Distribution of Hygiene (Metropolitan France), the French Health Industry - based in Reunion Island and part of the business VDI Belgium, society TINI and the holding control group Etienne BBA Packaging.
All cash generated from this sale will be devoted to acquisitions for the Batteries division, which is involved in the design and distribution of all types of batteries, chargers, adapters and portable lighting products and is responsible for approximately 75% of consolidated sales. VDI says that some of these acquisitions may be concluded in the first half 2015, pursuing its goal of establishing itself as the European leader in the specialised distribution of batteries.
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6th November 2014