SCA Increases Its Stake In China's Vinda
Feb. 20, 2008 - SCA said that it has increased its stake in Hong Kong-based tissue maker Vinda, from 14% to 19%.
Vinda is one of the largest tissue products companies in China.
Jan Johansson, president and CEO of SCA, explained that his company wants to continue to strengthen its presence in China's growing tissue/sanitary products market.
“The Chinese tissue market has good growth rates and the Vinda brand is one of the most well-known brands in the country. By increasing our stake in the company, we secure a strategic position that gives us a stronger foothold in the very important Chinese market, which is the second largest tissue market in the world,” Johansson said.
On March 29, 2007, SCA initially acquired 20% of the shares in Vinda, which SCA later diluted to 14% when Vinda was listed through an IPO on the Hong Kong stock exchange in July 2007.