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Moller-Maersk agrees to sale of plastics division

DENMARK&rsquo;S shipping group Moller-Maersk said yesterday it has agreed to sell its Rosti Technical Plastics (RTP) Holding unit to the privately-owned Swedish firm Nordstjernan for an undisclosed fee. <br /><br />RTP, which produces injection-moulded plastic products for various industries, had sales of &euro;112m (&pound;103m) in the last 12 months, Nordstjernan said in a statement yesterday.<br /><br />&nbsp;Nordstjernan said it will merge RTP with its Stella Plastic Holding unit to create a company with turnover of &euro;150m and around 1,800 employees.<br /><br />&nbsp;For shipping and energy group Maersk, the sale is part of a strategy to dispose of non-core assets, Nordstjernan said.<br /><br />Meanwhile, Moller-Maersk yesterday said it sees its retail business as part of a focus area for further investment, amid one of shipping&rsquo;s worst crises.