Thiele Announces Buy Back of Stora Enso Interest
Feb. 5, 2014 - Thiele Kaolin Company announced today that the Company has repurchased Stora Enso Oyj's stock interest in Thiele.
Completion of this strategic transaction assures Thiele's future as a privately held, world class global kaolin producer and will allow for a continuing focus on providing outstanding customer service and tailored kaolin products that generate value for our customers.
Stora Enso became a shareholder in Thiele following its acquisition of Consolidated Papers, Inc. in 2000.
"Since 2000, Stora Enso has been a valuable partner and we thank them for their contributions over the years," said Paul Kirschling, Thiele's President. "We understand that
Thiele is no longer a strategic asset for Stora Enso and we certainly wish them success in the future. On the other hand, Thiele looks forward to its future — financially sound and well positioned for continuing success as a global kaolin supplier.
The repurchase of the Stora Enso shares consolidates Thiele's shareholding base largely among founding families and their descendants, as well as present and former company employees.
Thiele Kaolin Company is one of the world's leading sources of processed kaolin clay. Thiele mines, processes, blends and delivers the full spectrum of kaolin coating and filler pigments, tailored to meet the specific needs of individual applications. Thiele activities are ISO 9001 certified — an emphasis on quality has been a company tradition for more than five decades. To learn more, please visit www.thielekaolin.com.
SOURCE: Thiele Kaolin Company