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Posted February 28, 2018
Sappi Limited has completed the acquisition of the speciality paper business of Cham Paper Group Holding AG (CPG), company announced. The transaction includes the acquisition of CPG’s Carmignano and Condino mills in Italy, its digital imaging business located in Cham, Switzerland as well as all brands and know-how. According to Sappi, the deal will adds 160,000 tons of speciality paper to its capacity. Financial benefits include Euro 183 million of sales and approximately Euro 20 million of EBITDA before taking into account synergies.Commenting on the transaction Steve Binnie, CEO of Sappi Limited, said: “I am very pleased that we have been able to finalise this acquisition so quickly. We are now able to move with speed to combine Cham’s strong brands, employees and assets with Sappi’s global presence. Our existing as well as new customers will benefit from a broader range of products coupled with our well-established excellent customer service. This transaction strengthens Sappi’s specialities and packaging papers business both in Europe and globally, improves our profitability and is another significant milestone towards realizing our Vision2020 goal.”Following the divestment of the paper business, Cham Group will focus on its real estate business.
The digital imaging business in Cham, Switzerland