Specialty paper producer Ahlstrom has entered into an agreement to divest its Stenay paper mill in France to German investment holding company Accursia Capital.
The company had received a binding offer from Accursia in July. The transaction is expected to be completed at the end of September.
"This acquisition is part of a long-term investment strategy aimed at making Stenay a leading player in the highly competitive paper-based packaging market," said Accursia.
The Stenay mill produces one-side coated (C1S) specialty paper for label, graphic, and food packaging applications. It operates one paper machine with a production capacity of approximately 55,000 tpy and employs 120 people. The mill also has its own research and development department with the capability to develop new formulations and manufacturing processes.
