Arjowiggins Security will sell its Dutch VHP mill to Oberthur Fiduciaire for €22m plus an earn-out.
Arjowiggins Security has entered into a binding agreement to sell its subsidiary Arjowiggins Security BV to Oberthur Fiduciaire for €22m plus an earn-out. The assets to be sold include the Dutch VHP mill in Apeldoorn and intellectual property rights related to the production of banknote paper. The transaction is expected to be completed on 31 July 2017.
After completion of the sale, Arjowiggins Security will operate a plant in Jouy sur Morin and a research centre in Apprieu, both France. Arjowiggins Security is part of Sequana Group.