Vestel Sells Its Factory In Poland To LG For $31.4 Million

Vestel Sells Its Factory In Poland To LG For $31.4 Million

ISTANBUL, 2 March (Reuters) - Vestel Elektronik VESTL.IS sold its indirect 100% subsidiary in Poland, Vestel Polska Technology, together with its factory, building, and land, to LG Chem Wrocław Energy for $ 31.4 million. In the statement made by Vestel Elektronik to KAP, it was stated that the plant sold as a television assembly factory and it was decided to sell the facility due to cost optimization. Vestel shares are traded at 14.57 TL at a 4.05% premium at 1005 hours. BIST-100 index is 2.4% premium. PURCHASED IN 2016 The statement stated that the facility is 223 thousand 89 square meters in total has the following statements: "Vestel Polska Technology Center sp. Z oo, owned by our 100 percent subsidiary, Vestel Ticaret AŞ (" Vestel Ticaret "), owns its entire factory in Wroclaw, Poland, with its building and land, on 31 February 20 million US The company sold the dollar to LG Chem Wrocław Energy Sp. Within the scope of the Toshiba brand license agreement signed by Vestel Ticaret with Toshiba Visual Solutions Corporation on September 1, 2016, Compal Electronics Europe sp. z o.o.'s title after the acquisition Vestel Polska Technology Center sp. z o.o. was changed to.