21st Apr 2015 10:40
LONDON (Alliance News) - Smurfit Kappa Group PLC said Tuesday that it has signed a deal to sell its Solidboard and Graphicboard operations in the Netherlands, Belgium and UK to the Aurelius Group for an undisclosed sum.
Smurfit Kappa said that the operations it is selling have net assets of EUR42 million, including two Graphicboard mills, and a Solidboard operation of two mills and four converting sites.
"The transaction represents a further progression of the group?s stated objective to focus on its core business as a leading global producer of paper based packaging solutions and maximise long term returns for shareholders," the company said in a statement.
Shares in Smurfit Kappa are trading down 0.4% at 28.52 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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