Dec 23, 2014. /Lesprom Network/.
Sequana
has finalized the divestment of its Coated US operations to Virtus Holdings
LLC, a company formed by members of Appleton Coated’s management team. The
Coated US operations represent approximately Euro 250 million of net sales and
employ over 600 people, as
the company said in the press release received by Lesprom Network.
With
the divestment of Appleton Coated and once the industrial restructuring of its
printing and writing businesses in Europe is completed as expected in 2015,
Arjowiggins will have significantly reduced its exposure to standard coated
paper which would account for less 5% of its sales in a near future in
accordance with its strategic plan announced last April.
