The Newark Group Sells Stake in European Waste Recovery Businesses

Aug. 7, 2012 - The Newark Group has announced the sale by its European Operations of its minority shareholdings in three waste recovery companies in Spain and the South of France to the majority shareowner, SAICA Natur, S.L.

The price of the sale was not disclosed.

SAICA Natur, S.L. is the waste recovery business of SAICA, a major Spanish containerboard producer and packaging company.

"The sale is a step in Newark’s plans to monetize assets in order to invest in its core businesses," The Newark Group said in a statement.

"The long standing and excellent relationship between Newark and SAICA Natur will continue as the parties have agreed to recovered paper supply contracts that will provide Newark’s Spanish paper mills with recovered paper under the same conditions as before the sale," the company added.

SOURCE: The Newark Group