PONSSE services in Chile have been transferred to Ponsse Chile S.p.A
Ponsse Plc
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PONSSE services in Chile have been transferred to Ponsse Chile S.p.A
Ponsse Plc has completed the sale of asset items related to its business activities in Chile. On 5 November 2021, Ponsse announced that it will move its sales, spare parts and maintenance services in Chile under its new subsidiary Ponsse Chile S.p.A. To this end, Ponsse and its local retailer F.C. Ventas Y Servicios Limitada (hereinafter “FC Ventas”) signed, on 5 November 2021, an asset purchase agreement related to Ponsse’s forest machine operations.
The conditions set for completing the transaction have been fulfilled, and the sale has now been completed. The FC Ventas service centre in Chillan, including its spare parts stocks and maintenance vehicles, has been transferred to the ownership of Ponsse Chile S.p.A, Ponsse Plc’s subsidiary in Chile.
Ponsse’s business in Chile amounts to approximately ten million euros. The purchase price was not made public by the parties’ mutual agreement, and the purchase price has no impact on the valuation of Ponsse.
Area director Martin Toledo to run Ponsse Chile SpA’s operations
Area director Martin Toledo will run the operations of Ponsse Chile SpA, Ponsse’s new subsidiary in Chile, being responsible for Ponsse’s operations in Uruguay, Argentina and Chile. Toledo started as the managing director of Ponsse Uruguay in 2010. He started his career at Ponsse in 2005 working as a sales manager at Ponsse Latin America Ltda in Brazil, and transferred to run Ponsse Uruguay’s operations in 2007 when the company started operating in Uruguay.
Vieremä, Finland, 17 March 2022
PONSSE PLC
Juho Nummela
President and CEO
FURTHER INFORMATION
Juho Nummela, President and CEO, tel. +358 400 495 690
DISTRIBUTION
Nasdaq Helsinki Ltd
Principal media
www.ponsse.com
Ponsse Plc specialises in the sale, production, maintenance and technology of cut-to-length method forest machines, and is driven by a genuine interest in its customers and their business operations. Ponsse develops and manufactures sustainable and innovative harvesting solutions based on customer needs.
The company was established by forest machine entrepreneur Einari Vidgrén in 1970 and has been a leader in timber harvesting solutions based on the cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland. The company’s shares are quoted on the NASDAQ OMX Nordic List.
