SCA to divest tissue mills in Norway and the UK
Aug 7 2012 SCA will divest its tissue mill in Drammen, Norway, and in Bridgend, UK, as well as a converting plant in the UK as part of the EU clearance requirements for SCA's takeover of Georgis-Pacific's European tissue business.
SCA will sell its 55,000 tons per year Llangynwyd mill in Bridgend, UK, the 22,000 tons per year mill Drammen, west of Oslo in Norway, and the tissue converting plant in Horwich, Lancashire, UK.According to SCA's CEO, Jan Johansson, the company intends to complete the divestments within a six-month timeframe following the closure of the deal with Georgia-Pacific, as required by the EU. The acquisition of Georgia-Pacific's tissue business in Europe was completed on July 19."We have a lot of interested parties in this, and there will be a trustee appointed as well for this process," Jan Johansson told the press conference after presenting SCA's second quarter result recently.