Jan 21, 2016. /Lesprom Network/. SCA announced that the shareholders of Wausau Paper Corp. have approved the acquisition by SCA. The transaction is scheduled to occur on Thursday, January 21, 2016 for total consideration of $513 million in cash.

“SCA is the world’s leading supplier of Away-from-Home tissue with the global brand Tork®. This acquisition is an excellent strategic fit and makes us a stronger supplier in North America. The acquisition will generate benefits for SCA and our customers,” said Magnus Groth, President and CEO, SCA.

Don Lewis, President, AfH Professional Hygiene, SCA, “On behalf of all SCA employees, I am excited to welcome Wausau Paper into the SCA family. The Wausau Paper product portfolio complements SCA’s offerings in North America, and the combined brands will provide customers with superior sales, service, innovation and logistics.”

The transaction expands SCA’s North America footprint and production capacity, and the combined businesses will provide customers with a comprehensive portfolio of products. The acquisition is expected to generate annual synergies amounting to approximately $40 million with full effect three years after closing.

Synergies are expected in sourcing, production, logistics, reduced imports, increased volumes of premium products and reduced SG&A costs. The restructuring costs are expected to amount to approximately $50 million.

SCA is a leading global hygiene and forest products company.

Paper Wausau Paper produces a complete line of away-from-home towel and tissue products.