COPENHAGEN - Denmark's A.P. Moller-Maersk agreed to sell its Rosti Technical Plastics Holding (RTP) unit to privately owned Swedish firm Nordstjernan AB for an undisclosed sum.
RTP, which produces injection-moulded plastic products for various industries, had sales of 112 million euros ($168.8 million) in the last 12 months, Nordstjernan said in a statement on Wednesday.
Nordstjernan said it will merge RTP with its Stella Plastic Holding AB unit to create a company with turnover of 150 million euros and around 1,800 employees.
For shipping and energy group Maersk, the sale is part of a strategy to dispose of non-core assets, Nordstjernan said.
(Reporting by John Acher; editing by John Stonestreet)