Arctic Paper Acquires Grycksbo Paper in Sweden
Sept. 25, 2008 - Arctic Paper said that it has acquired Grycksbo Paper AB, a fine paper mill in the Dalecarlia region of Sweden.
The seller, Accent Equity, a Nordic investment fund, will receive shares in Arctic Paper corresponding to roughly 10 per cent of the share capital.
The Grycksbo mill has a production capacity of 260,000 tons per year.
Arctic Paper also announced that it has begun negotiations with employee representatives regarding the closure of its Håfreströms mill in Åsensbruk, Sweden.
The mill employees 290 people and has a production capacity of 160,000 tons per year of coated graphical paper from its two paper machines.
Most of the production from the Håfreström mill will be moved to Grycksbo, Arctic said.
SOURCE: Arctic Paper