Huhtamaki says may sell rigid plastic unit
HELSINKI |
HELSINKI (Reuters) - Huhtamaki (HUH1V.HE) said on Tuesday it would re-focus its operations and could sell its rigid plastic consumer goods unit, which has sales of some 400 million euros ($586.4 million).
The unit's fate will be announced next year, it said.
"Huhtamaki's main financial targets, return on investment (ROI) at 15 percent and dividend payout ratio of 40 percent, remain unchanged. Huhtamaki will also focus on improving cash flow," the Finnish packaging maker said in a statement.
"In the short term, emphasis will be on debt reduction, and core stronghold businesses will focus on organic development targeting approximately 5 percent growth year-on-year," it said.
(Reporting by Brett Young)
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