SCA to buy stake in Chinese tissue maker Vinda
March 29, 2007 - SCA today said that it will buy 20% of the Chinese tissue company Vinda for SEK 330 million (approx. US$47.2 million).
"Acquisition of a stake in Vinda provides a good opportunity for SCA to establish an important position in the fast-growing Chinese tissue market. We will then be part owner in a profitable and fast-growing company with modern assets and a strong brand," said SCA's CEO Jan Astrom.
According to SCA, Vinda is one of the four largest players within the tissue sector in China and holds about 4 percent of the market.
Vinda has five production plants in China: two in Guangdong and one in Beijing, Sichuan and Hubei.