SCA Sells Its Stake in UK-based Aylesford Newsprint
Aylesford Newsprint manufactures on average 400,000 tpy of 100% recycled standard newsprint.
Oct. 2, 2012 (Press Release) - SCA has divested its 50% shareholding in the UK-based newsprint facility Aylesford Newsprint to the private equity company Martland Holdings.
Martland Holdings has acquired all of Aylesford Newsprint, which was equally owned by SCA and Mondi. The company has 280 employees and its annual capacity is approximately 400,000 tonnes of recovered fibre-based newsprint. Total sales for 2011 were approximately SEK 1.6bn (GBP 150m). The operations have been loss-making for the past years.
The sale of shares was carried out on a debt-free basis for a symbolic amount. The transaction involved a book loss of SEK 850m (GBP 80m) and a negative cash flow effect of SEK 140m (GBP 13m) for SCA. The loss will be booked in the third quarter of 2012.
The transaction was finalised today, on 2 October 2012.