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packagingnews.co.uk
M-real sells office paper business to sharpen packaging focus
M-real’s restructure to focus on its packaging board business has continued with the sale of office paper subsidiary Premium Paper.
The German mill that employs 100 people has been sold to the sister company of paper producer Papierwerke Lenk.
A spokesman from M-real told Packaging News: “We are focusing on virgin fibre-based cartonboard because we feel that it’s an excellent product when it comes to quality and environmental awareness in the long-term.”
He also said that M-real will be expanding its capacity at the Finnish-based Äänekoski and Simpele paper mills.
Premium Paper products are used in high quality graphical end-uses, such as letterhead, brochures, books, calendars and envelopes. M-real will continue the carbonless business at the Reflex mill.
M-real said that if the transaction is consummated as planned M-real books a negative €12 million non-recurring item in Speciality Papers business area. Cash impact would be approximately €1 million negative.
The firm also said that the planned divestment does not have a material impact on its operating result.
The transaction is expected to be closed during quarter two of 2011.
“The planned divestment of the Premium Papers is a natural step in M-real’s strategy and a proof of M-real’s capability to divest its non-core paper business consistently. We are satisfied with the good solution in which the Premium Paper business will be transferred to the new owner who can focus to develop this segment successfully in the future,” said M-real chief executive Mikko Helander.
Tel:886-2-28941823 Fax:886-2-28941837 E-mail:viya@packsourcing.com
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