Smurfit Kappa has announced the signing of an agreement to sell its solid board and graphic board operations in the UK, the Netherlands and Belgium to the Aurelius Group.
The net assets of the operations being sold amount to €42m and include two graphic board mills and an integrated solid board operation of two mills and four converting sites.
In a statement, Smurfit Kappa explained that the transaction was “a further progression of the Group’s stated objective to focus on its core business as a leading global producer of paper-based packaging solutions and maximise long-term returns for shareholders.”
Aurelius stated its plans to expand the business’ footprint and optimise its operations while seeking to provide the best solutions for all stakeholders involved.
While the financial terms of the deal have yet to be disclosed, Dr Dirk Markus, CEO of Aurelius commented, “We are excited about working with this business to build on the existing strong market position through a focus on innovation, a revitalised sales function, and improved production efficiency.”
© 2015 - Checkout Magazine by Jenny Whelan.