October 27 (SeeNews) - Slovenian document printing company Cetis [LJSE:CETG] said its shareholders have approved a plan to spin off its commercial printing activities and transfer them to its unit Amba Co. for economic, logistic and organisational reasons.
The shareholders granted their approval at a meeting held on October 23, Cetis said in a statement on Monday.
It gave no further details on the planned move.
Cetis is active in security and commercial printing, including the printing of ID documents, lottery tickets and cards as well as in packaging and labels. It is part of MSIN Group which employs more than 950 people in its companies.
Production and trading firm Amba Co. produces multi-colour printed flexible packaging adjusted to the specific packaging characteristics of various products from food, pharmaceutical, tobacco, cosmetic, chemical and other industries.
Cetis is the parent company of Cetis Group, which comprises seven companies active in the field of solutions for security and commercial printed materials, including Amba Co.
Cetis' shares last traded on the Ljubljana bourse on October 7, closing at 60 euro ($71), bourse data shows, without indicating what the change in price was.
($=0.846688 euro)