SCA Divestment of Former G-P Units Approved
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SCA, Stockholm, Sweden, reports that in conjunction with its acquisition of Georgia-Pacific's (Atlanta, Ga., USA) European tissue operations during the summer of 2012, the EU Commission imposed requirements concerning the divestment of certain units within consumer tissue. The EU Commission has now approved the divestments.
Requirements imposed by the EU Commission included the sale of parts of G-P's former operations in the U.K., Ireland, and the Benelux countries, and certain operations in the Scandinavian region.
The branded business in the U.K., Ireland, and the Benelux countries is being sold to Sofidel. The production facility in Horwich, U.K., is included in this transaction. The retailer brand businesses in the U.K. and Ireland are being sold to Northwood and Wepa. The production facility in Bridgend, U.K., is included in this transaction.
Parts of the Nordic retailer brand business have been sold to Vajda Papir. The production facility in Drammen, Norway, is included in the transaction, together with a conversion line from the facility in Nokia, Finland.
These operations together represent total sales of about EUR 200 million and the combined purchase consideration is approximately EUR 100 million.
SCA produces personal care, tissue, and forest products. Sales are conducted in about 100 countries, and the company has some 36,000 employees.
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