September 23 (SeeNews) - Slovenian document printing company Cetis d.d. [LJSE:CETG] said it plans to spin off its commercial printing activities and transfer them to its unit Amba Co. for economic, logistic and organisational reasons.
The proposal will be put to the vote of the company's shareholders on October 23, Cetis said in a statement on Tuesday.
At present, 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 d.d. 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 August 28, closing at 73 euro ($85), bourse data showed without providing details on the price change.
($=0.8547 euro)