Sep 13, 2014. /Lesprom Network/. SCA’s and the majority shareholder in China’s third-largest tissue company, Vinda International Holdings Limited, agreement with Vinda to transfer its hygiene business in China (Mainland China, Hong Kong and Macau) has been approved by the independent shareholders of Vinda, as the company said in the press release received by Lesprom Network. 

Vinda is listed on the Hong Kong Stock Exchange, and the agreement which strengthens the cooperation between SCA and Vinda (announced July 18, 2014) was subject to approval by the independent shareholders of Vinda.

“The approved cooperation and transaction will generate mutual benefits for both SCA and Vinda particularly in distribution, sales, innovation and R&D. Vinda will get access to a broader product portfolio and SCA’s brands will have the potential to reach a broader base of consumers and customers via the extensive and robust distribution network of Vinda in China,” says Jan Johansson, President and CEO of SCA.

SCA has been a shareholder in Vinda since 2007, became its majority shareholder in late 2013, and has consolidated Vinda financials since the first quarter of 2014.

SCA is a leading global hygiene and forest products company.