Pelikan may close toner factory as shares sold

The stationer’s toner powder factory in Switzerland may close, as the parent company sells 25-million shares to Singapore-based investors.

AVU (German) reported on the proposed closure of Pelikan Hardcopy’s Monchaltorf toner powder plant in Switzerland, stating that “negative currency developments and changing market conditions” may force the company to close the site, as well as the “loss-making development of toner powder” and the “overcapacity” of the toner production market.

The company says in a statement that “negative currency effects” led to a collapse of the company’s toner powder business, and it noted that it is looking to “check the transferability of toner powder production”. The plant in Monchaltorf currently provides toner for the refilling and remanufacturing industry in Europe.

In other news, Asia One reported that Singapore-based investor group Caprice Capital International has purchased 25-million shares in Pelikan International in an “off-market trade”, with the purchase amounting to around 4,5% of the company’s share base, with each share worth RM 1.13 ($0.34/€0.27).

The investors have been investing in Pelikan since mid-August last year, with Asia One noting that this had begun after Pelikan’s share price “had suffered selling pressure and dipped to a low of 33.5 sen ($0.10/€0.08) per share” after its proposed share-swap deal with China Stationery Ltd. fell apart; whilst Pelikan’s share price has risen in the last week by 13.7 percent to RM 1.33 ($0.40/€0.32).

The site added that Caprice Capital made the investment because it has “sought out other undervalued companies to invest in in the past”, and is “attracted” to the company’s plan to embark on corporate restructuring.

Picture: Pelikan Hardcopy’s base in Wetzkion (Credit: David Kunding, AVU)

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