UPM Raflatac to acquire Gascogne’s labelstock operations in Switzerland
Gascogne has found a buyer for its Gascogne Laminates Switzerland subsidiary. UPM Raflatac has signed an agreement with the French company to acquire the site in Martigny. The sale of the group’s remaining labelstock facilities in Germany and France is still outstanding.
UPM Raflatac has signed an agreement with Gascogne Group to acquire the French company’s labelstock facility in Martigny, Switzerland. The transaction is still subject to regulatory approvals. The parties agreed not to disclose the purchase price.
Gascogne Laminates Switzerland operates a plant in Martigny where it produces multi-layer materials for packaging and product protection as well as adhesives, and also offers printing solutions. The company employs approximately 110 people. Gascogne already announced in February this year that it would be looking for a buyer for the site. The group explained that the plant posted an operating loss of €3.4m in 2011.
Gascogne’s Laminates division includes other plants in Germany and France that are to be sold as well. In April this year, it was learnt that the group intends to part with the whole division since it was loss-making. While the Swiss subsidiary will be divested separately, the sites Linnich in Germany as well as Dax and Jarnac in France are to be sold together.
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