Nordic Paper to Be Acquired by Anhui Shanying Paper
Nordic Paper produces unbleached kraft paper (180,000 tons per year) and natural greaseproof paper (65,000 tpy) at mills in Sweden and Norway.
July 25, 2017 - Nordic Paper on July 21 announced that it will be acquired by Anhui Shanying Paper Industry Co., Ltd. of China.
Terms of the deal were not disclosed.
Nordic Paper is currently owned by Special Situation Venture Partner lll (60%) and Petek GmbH (40%). The company operates four paper mills — three in Sweden and one in Norway — and produces unbleached kraft paper (180,000 tons per year) and natural greaseproof paper (65,000 tpy). Two of the mills also produce pulp.
According to Nordic Paper, Anhui Shanying Paper has entered into an agreement to acquire 100% of the shares in Nordic Paper Holding AB.
In a press release, Nordic Paper said, “The new owner, Anhui Shanying Paper, is a part of Taison Group. The company is listed at the Shanghai Stock Exchange since 2001. Anhui Shanying Paper has communicated to the stock market its intention to expand and diversify, both in terms of product portfolio and geographically. Today, its core business consists of recycled fibre trading, kraft paper manufacturing, packaging, design, printing and logistics.”
Nordic Paper noted that it will remain as an independent European pulp and paper company and there will be no changes regarding the business or operations at the moment.
The transaction is subject to approvals by relevant Chinese authorities as well as the shareholders' meeting of Anhui Shanying Paper.
Nordic Paper produces Natural Greaseproof and Kraft papers. To learn more, please visit: www.nordic-paper.com.
SOURCE: Nordic Paper