Thrace Plastics S A : Internal Restructuring of the Group’s Participations
September 14, 2017 at 05:09 pm EDT
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September 05, 2017
Internal Restructuring of the Group's Participations
The Management of the Societe Anonyme 'THRACE PLASTICS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME' with the distinctive title 'THRACE PLASTICS CO. S.A.' (henceforth 'the Company')
The Management of the Societe Anonyme 'THRACE PLASTICS INDUSTRIAL AND COMMERCIAL SOCIETE ANONYME' with the distinctive title 'THRACE PLASTICS CO. S.A.' (henceforth 'the Company') informs the investors' community that in the context of its strategic plan, the Company initiated the internal restructuring of the Group's participations with the objective to ensure the smooth and most efficient management, the further enlargement of the production and product distribution network, and the most efficient servicing of these markets via the entire spectrum of products and services offered by the Group. It is noted that the activity of the Group will continue to be classified in two sectors, the Technical Fabrics Unit and the Packaging Unit.
In the context of the above internal restructuring of the Group following actions have been in place until today:
a) The fully owned (100%) by the Company subsidiary 'Pareen LTD', domiciled in Nicosia, Cyprus, was transferred to the fully owned subsidiary 'Synthetic (Holdings) Ltd' which is based in the United Kingdom, via the issuance of new shares which the Company received in exchange for the above transaction.b) The merger through absorption of the company 'Thrace Linq Inc.', which is based in Summerville, USA, and deals with the production and trade of technical fabrics, by the company 'Delta Real Estate Investments LLC' which is also based in Summerville, USA, and possesses a property, part of which hosts the business activity of 'Thrace Linq Inc'. Following the completion of the merger procedures absorption, the absorbing company 'Delta Real Estate Investments LLC' was renamed into Thrace Linq Inc.
It is noted that the internal restructuring of the Group's participations, as described above, is not expected to have any material impact on the financial figures (turnover, equity, financial position and results) of the Group.
Thrace Plastics Co. SA published this content on 05 September 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 September 2017 21:08:01 UTC.
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Thrace Plastics Holding and Commercial Societe Anonyme, formerly Thrace Plastics Co SA, is a Greece-based company engaged in the production and trade of plastic products, textiles and packaging materials. The Company's range of products are divided into three categories: Technical Fabrics & Fibers, which includes such products as woven and non-woven geotextiles, ground covers, crop covers, nets, roofing membranes, staple fibers, concrete reinforcement fibers, geogrids, Mega bag components and carpet and industrial yarns; Consumer Packaging, which offers plastic containers and lids, cups, tubs, bottles, bags for liquid packaging, as well as plastic packaging for food products, and Industrial Packaging, which includes ropes and twines, big bags, films, woven polypropylene bags, bags for heavy duty, pallet covers, and stretch hoods. The Company operates through its local and international subsidiaries.
THRACE PLASTICS HOLDING COMPANY S.A. 
