TUI sells British AMC Group
| Service |
Hanover, September 15, 2003
TUI is arranging to sell its 99.4% shareholding in Amalgamated Metal Corporation plc (AMC) by way of a management buy out. The transaction should take place before the end of the current financial year.
The AMC Group is a leading metal trading, distribution and production group, active through its principal subsidiaries located in the United Kingdom, Canada, Australia and Thailand. The AMC contributed a turnover of Euro 2.4 billion to the TUI Group in 2002, the major portion of this being trading turnover.
Selling off the trading activities, and thereby the AMC group, is part of TUI’s restructuring programme. With the sale of AMC, the share of tourism turnover in TUI Group turnover increases to 75% and the logistic turnover share increases to 20%.
For further information please contact:
Björn Beroleit, phone +49 511 566-1310
Nicola Gehrt, phone +49 511 566-1435