SCA divests Laakirchen mill to Heinzel Group
"SCA's remaining publication paper operations will be concentrated to Sweden, close to its forest holdings," says the company.
SCA is divesting its Laakirchen publication paper mill in Austria to the Vienna-based Heinzel Group. According to SCA, the initial purchase consideration is €100m, but an additional purchase price of up to €100m is possible on a two-year profit sharing model. The transaction is expected to be completed in the first quarter of 2013 following approval by the relevant authorities.
Laakirchen paper mill houses two paper machines and employs just about 500 people. The annual production capacity amounts to 530,000 t of SC paper for offset and rotogravure printing.
In conjunction with the divestment of the Laakirchen paper mill, SCA Forest Products and Heinzel Group have signed a sales and marketing cooperation agreement for publication papers, pulp, kraftliner and flexible packaging products. "One effect of this will be that SCA’s sales offices in Poland and Italy will be acquired by Heinzel Group", reports SCA.
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