Papyrus Divests Envelope Unit in Germany
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Papyrus, Gothenburg, Sweden, reports that it has finalized the divestment of its envelope production unit in Germany to the Mayer-Kuvert-network, as announced last month. With the divestment, Papyrus continues to pursue its strategic business decision to separate itself from envelope manufacturing and focus fully on its core business and the reinforcement of the company's position as a key paper merchant in Continental Europe.
Papyrus, with net sales of EUR 1,726 million in 2012, currently has operations in 22 countries across Europe and employs some 2,300 people.
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