Home / Knowledge / News / Textiles / Stora Enso divests recycled fibre based board mill
Stora Enso divests recycled fibre based board mill
29
Jul '15
In line with its strategy to focus its consumer board offering on high quality virgin fibre products, Stora Enso has sold its Barcelona mill, which produces recycled fibre based consumer board, to private equity fund Quantum.

“The initial cash consideration for the divestment of the shares is approximately €10 million, subject to customary closing day adjustments,” Stora Enso said in a press release.

“The transaction has no material income statement impact and is expected to be completed in the fourth quarter of 2015, subject to regulatory approvals,” it added.

“Stora Enso is focusing its consumer board offering on high quality virgin-fibre products and the Barcelona mill is the only recycled-fibre based mill in our Consumer Board division,” Jari Latvanen, head of the division said.

“Despite positive results development in recent months, the Barcelona mill requires further development effort and investment if it is to remain on a profitable path,” he added.

Based on the annual figures for 2014, the divestment is expected to reduce Stora Enso's annual sales by €117 million and also reduce Stora Enso's annual board production capacity by around 195,000 tons.

“The transaction does not have material impact on Stora Enso's operational EBIT and cash flow going forward and it will improve operational EBIT and EBITDA margins slightly,” Stora Enso informed.

Quantum Capital Partners is a German private equity fund headquartered in Munich and focuses on corporate spin-offs and carve-outs in which the acquisition has a turnover between €20-500 million.

Quantum has completed a series of successful transactions with leading global corporations such as Bosch, BASF and Airbus Group.

Quantum's current portfolio consists of seven companies, with a combined turnover of some €350 million.

Quantum commands a newly established fund of more than €57 million and is an active investor in the industry, having completed five transactions in 2014 and two in 2015. (AR)

Fibre2Fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search