The Newark Group Sells Stake in European Waste Recovery Operations to SAICA
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The Newark Group, Cranford, N.J., USA, has sold its minority shareholdings in three waste recovery companies in Spain and the South of France to the majority shareowner, SAICA Natur S.L., which is the waste recovery business of the Spanish containerboard producer and packaging company SAICA. Newark notes that the sale is "a step" in its plans to monetize assets and invest in its core businesses.
The long standing relationship between Newark and SAICA Natur will continue as the parties have agreed to recovered paper supply contracts that will provide Newark's Spanish paper mills with recovered paper under the same conditions as before the sale.
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