Apr 27, 2010. SCA signed an agreement to sell its Asian packaging operation and puts focus on hygiene growth in Asia. The buyer is International Paper and the purchase consideration amounts to $200 million. The transaction is expected to be finalised during the 2Q 2010, subject to approval from the relevant authorities.
SCA divests Asian packaging operation
Apr 27, 2010. /Lesprom Network/. SCA signed an agreement to sell its Asian packaging operation and puts focus on hygiene growth in Asia, company said in a statement received by Lesprom Network.
The buyer is International Paper and the purchase consideration amounts to $200 million. In 2009, the Asian operation reported sales of approximately $250 million and had approximately 4,500 employees at 15 plants in China, Singapore, Malaysia and Indonesia.
“We divest our packaging business in Asia in line with our strategy, to focus on our hygiene products there”, says Jan Johansson, President and CEO of SCA.
The purchase consideration will be settled in cash. The transaction will result in neither capital gain nor capital loss.
The transaction is expected to be finalised during the 2Q 2010, subject to approval from the relevant authorities.
