The Grupo Europac (Papeles y Cartones de Europe S.A.) has reached an agreement to sell Europac Logistica Lda., the society that provides maritime transport services at the commercial port of Viana do Castelo in Portugal. The company has been acquired by Servinoga, S.L. which belongs to the Nogar Group, for Euro 2.7 million, with a net book value of Euro 0.4 million. The operation therefore represents goodwill of Euro 2.3 million for Europac, as the company says in the press release received by Lesprom Network.
The operation is in response to Europac's desire to disinvest in non-strategic assets, whereas the buyer is expanding their presence in a sector in which they specialise. Servinoga has likewise signed a long-term contract with progressive discounts on prices currently held by Europac Kraft Viana. This contract, furthermore, guarantees the Europac Group's kraftliner paper factory the services of an operator, shipping agent and port services supplier which up to now have been provided by Europac Logistica.
90% of the Portuguese facility's production of kraftliner paper is intended for export and the port of Viana do Castelo is the starting point for more than 150,000 tons a year.
