May 22, 2015. /Lesprom Network/. Arjowiggins has closed the sale of Arjo Wiggins Ltda to the Fedrigoni Group for an enterprise value of Euro 85 million, including an earn-out of up to Euro 5 million, payable in 2016 subject to certain performance criteria, as the company said in the press release received by Lesprom Network. 

The disposal of Arjo Wiggins Ltda together with the sale of 85% of the entities that own the Group’s Security Solutions division to the Impala Group, which is scheduled to complete over the next few months, should enable Arjowiggins to reimburse its Euro 125 million syndicated credit facility in full and to enhance its financing capacity.

Arjo Wiggins Ltda, which produces paper mainly for banknotes and secure documents, reported sales of approximately Euro 70 million in 2014.

Arjowiggins is a world leader in creative and technical papers, with nearly 4,000 employees.