Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  LG Household & Health Care    051900   KR7051900009

LG HOUSEHOLD & HEALTH CARE (051900)
My previous session
Most popular
  Report  
SummaryNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

LG Household & Health Care : Avon announces agreement to sell China manufacturing operation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/12/2019 | 03:44am EST

Avon Products, a globally recognised leader in direct selling of beauty and related products, has announced it has entered into a definitive agreement with The Face Shop, a subsidiary of LG Household & Health Care Ltd., one of Asias largest consumer goods and beauty companies, under which The Face Shop will acquire all of the shares of Avons Beauty manufacturing operation in Guangzhou, China. Net proceeds to Avon will be US$ 44 million.

The companies also agreed to enter into a manufacturing and supply agreement, under which the Guangzhou factory will manufacture products for Avons fast-growing Chinese business and other markets, while maximizing the capacity of the plant for its own production. Avons associates at the facility will remain with the operation.

These agreements are another step in Avons strategic shift to opening up its business mindset with best in class partners to efficiently manufacture and deliver products, in service of the millions of beauty entrepreneurs and their customers around the world.

Jan Zijderveld, CEO of Avon, said, This transaction is a significant step forward in our efforts to Open Up Avon by operating more efficiently, with a leaner, more agile global infrastructure. This agreement provides us with greater operational and financial flexibility, while allowing us to benefit from the local knowledge, world-class products, R&D expertise and infrastructure of internationally-recognized partners such as LG H&H. By operating with a local structure that fits our purpose, we will be better positioned to capture the significant opportunity in China and the wider Asian market. We know LG H&H well and believe that they will continue to be a strong partner for Avon as we collectively seek to grow our business in the region.

Suk Cha, CEO of LG Household & Health Care, said, We are pleased to have reached this agreement with Avon and add a state-of-the-art facility with powerful capabilities to deliver quality products for the fast-growth local market. Our past interactions with Avon provide us a sound understanding of its brand power and global reach, and we look forward to continuing our relationship with Avon as we both explore ways to grow our product lines, bring desirable products to market faster, and each accelerate our growth across Asia.

The transaction is expected to close by February 2019 following customary local regulatory approvals.

(c) 2019 The Times of Israel. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LG HOUSEHOLD & HEALTH CARE
01/12LG HOUSEHOLD & HEALTH CARE : Avon announces agreement to sell China manufacturin..
AQ
01/08AVON PRODUCTS : to Sell China Manufacturing Operation to LG Household Unit
DJ
2018LG HOUSEHOLD & HEALTH CARE : Ex-dividend day for final dividend
FA
2018LG Group chooses stability over radical reform by minimizing exec reshuffle
AQ
2018Seoul stocks start higher on chemicals, steel
AQ
2018EXCLUSIVE : Cosmax CEO says he has rejected two takeover offers, wants to stay i..
RE
2017LG HOUSEHOLD & HEALTH CARE : Ex-dividend day for final dividend
FA
2017LG HOUSEHOLD & HEALTH CARE : reports the highest half-year result Sales 3.1tr wo..
PU
2017LG HOUSEHOLD & HEALTH CARE : Consolidated Business Performance_1H17
PU
2016LG HOUSEHOLD & HEALTH CARE : Ex-dividend day for final dividend
FA
More news
Financials (KRW)
Sales 2018 6 670 B
EBIT 2018 1 046 B
Net income 2018 724 B
Finance 2018 146 B
Yield 2018 0,85%
P/E ratio 2018 25,90
P/E ratio 2019 23,18
EV / Sales 2018 2,87x
EV / Sales 2019 2,64x
Capitalization 19 317 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 1 395 724  KRW
Spread / Average Target 22%
EPS Revisions
Managers
NameTitle
Suk-Yong Cha Chief Executive Officer & Director
Sung Huh Chief Financial Officer & Director
Cheon-Gu Lee Chief Technology Officer & Vice President
Sang-Rin Han Outside Director
In-Su Pyo Outside Director
Sector and Competitors
1st jan.Capitalization (M$)
LG HOUSEHOLD & HEALTH CARE17 095
PROCTER & GAMBLE COMPANY-0.54%227 765
UNILEVER NV (ADR)-0.93%152 654
UNILEVER (NL)-1.28%152 640
UNILEVER-1.31%152 640
RECKITT BENCKISER-0.22%54 441