Loparex Group to sell its plants to Mondi
Apr 14, 2008. /Lesprom.com/. Loparex Group has signed a Share Purchase Agreement with Mondi Coating BV (part of Mondi Group) concerning the sale of Loparex Oy (Lohja plant), Loparex Ltd (Glossop plant), as well as Loparex's printing and slitting terminals located in Poland and Thailand.
Apr 14, 2008. /Lesprom.com/. Loparex Group has signed a Share Purchase Agreement with Mondi Coating BV (part of Mondi Group) concerning the sale of Loparex Oy (Lohja plant), Loparex Ltd (Glossop plant), as well as Loparex's printing and slitting terminals located in Poland and Thailand.
The sale will be closed after the necessary approvals have been obtained from competition authorities. The estimated timetable for this is July 1, 2008.
"The decision to exit these operations was made as part of Loparex Group's strategy to create sustainable growth by focusing on certain value-added products and expansion in emerging markets", states Pentti Kallio, Loparex Group CEO.
The Loparex Group going forward will consist of Loparex LLC with operations in Iowa City (IA), Hammond (WI), Eden (NC), Cullman (AL) and the Willowbrook (IL) head office; Loparex BV in the Netherlands; Loparex Asia Pacific in Guangzhou China and Hong Kong, and Kaygee-Loparex in India, a 50% Joint Venture.
Loparex is the world's leading manufacturer of siliconised release liners and speciality papers.