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Arctic Paper Acquires German Paper Mill

Sept. 11, 2008 - Gothenburg, Sweden-based Arctic Paper today said that it has agreed to acquire Mochenwangen Papier GmbH of Germany from Golzern Holding, subject to regulatory approval.

The purchase price was not disclosed.

Mochenwangen Papier operates three paper machines at its mill in southwestern Germany, in the state of Baden-Würtemberg.

The mill produces 115,000 tons of fine paper per year-mainly book paper, which complements paper grades produced by Arctic.

According to Arctic, about 60 percent of the mill's production is sold domestically, while its largest export markets are Italy, France and the United Kingdom.

Arctic Paper owns two mills in Sweden; Arctic Paper Munkedals AB and Arctic Paper Håfreströms AB, as well as Arctic Paper Kostrzyn S.A in Poland.

With the acquisition of Mochenwangen Papier, Arctic Paper will increase its production capacity to 700,000 tons per year.

SOURCE: Arctic Paper




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