SCA Completes Formation of JV Partnership with Pacific Equity Partners
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SCA, Stockholm, Sweden, reported this week that it has completed forming the previously announced joint venture partnership with the Australian company Pacific Equity Partners (PEP) that involves SCA's existing operations in Australasia. SCA and PEP Fund IV will each hold 50% of the new JV company. Finalization of the transaction follows approval by the relevant authorities.
SCA's operations in Australia, New Zealand, and Fiji employ about 1,500 people. In 2010, this business had net sales of SEK 4,400 million, with some 70% related to tissue and some 30% related to personal care products. In the region, SCA manufactures and markets several brands including TENA, Tork, Sorbent, Purex, Libra, Treasures, Deeko, and Handee Ultra.
"This deal strengthens our operations in Australia and New Zealand, and it secures our access to local competence and the local capital market. This enables a faster development of the operations," Jan Johansson, president and CEO of SCA, had stated earlier.
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