TOMRA divests its California operation
In 1998, TOMRA founded Tomra Pacific, Inc. through a series of acquisitions. Tomra Pacific, Inc. became the largest integrated recycler of used beverage containers in California, collecting and processing approximately 2.5 billion cans and bottles.
TOMRA's recent strategic focus on technology and movement away from the physical handling of materials prompted its interest in a sale of the entity.
Tomra is currently divided into three business divisions: Collection Technology, Industrial Processing Technology and Materials Handling. Tomra Pacific, Inc. was grouped under Materials Handling. After the divestment, the remaining part of Material Handling (East Coast business) will be included in the Collection Technology division, and no longer will be reported as a separate business segment.
Lazard Middle Market LLC acted as Tomra's advisor on this transaction.
For further information, please contact:
SEVP/CFO Espen Gundersen +47 97 68 73 01
The information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Attachment: Financial information