News: Paperlinx buys Swedish company

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Paperlinx Limited (ASX:PPX) has announced its Danish operation has purchased Cadorit for $1.1 million.

 

Cadorit is based in South West Sweden and specialises in digital solutions for the sign and print industry.

 

It has annual revenues of about $3.2 million.

 

Peperlinx CEO Dave Allen says the acquisition is in line with its strategy to expand its revenue streams beyond the traditional print offering.

 

The deal was completed on June 1 and was funded from the local credit facilities of Paperlinx’ Danish operation.

 

Paperlinx posted a net loss of $57.3 million in the first half of fiscal 2013.