State Printing Press wins Ft 1.57 bln tender
Monday, November 7, 2005, 11:28
The State Printing Press Rt has won a Ft 1.569 billion tender to supply Hungary's Transportation Authority with 8.6 million validation stickers for driving licenses over the next four years, according to an announcement in the Public Procurement Gazette. Another bidder, Codex, offered to supply the stickers for a lower price of Ft 1.5 billion, but still placed second in the tender evaluation, according to the announcement.
State Printing Press, majority-owned by Láng Holding, had consolidated pre-tax profit of Ft 1.34 billion on revenue of 11.51 billion last year. About 34% of revenue comes from printing documents with security features, such as the validation stickers. Traditional printing jobs generate just 8% of turnover, the company said earlier.
Owners approved at a meeting in September a motion to consider listing the company on the stock exchange. The meeting agreed to convert the private company into a public one in preparation for the listing.