Cham Paper Group exits base paper production. Condino and Carmignano paper mills to be integrated into the Delfort Group
Swiss specialty paper company Cham Paper Group (CPG) has agreed to sell its Italian Carmignano and Condino paper mills to Austria’s specialty paper manufacturer Delfort Group. The transaction is expected to be finalised in the fourth quarter this year, subject to approval by competitive authorities. CPG quotes the value of the transaction at €86m, including financial debt of €45m. Further details of the deal are not to be disclosed, according to CPG
Cham Paper Group offers a wide range of coated specialty paper products for the consumer goods, industrial release and digital imaging industries. With the sale of the two Italian paper mills to Delfort Group CPG will pull out of paper production and concentrate on converting and finishing operations, the company says.
In June 2012, CPG had abandoned base paper production on the PM 4 at the Swiss Cham paper mill. Production on the remaining of the two paper machines at the Cham site, PM 5, was discontinued at the end of March this this year.