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Disposal of Graphic Papers businesses
03.05.2011
Powerflute Oyj (“Powerflute” or the “Group”), today announces that it has agreed to dispose of its interests in the Papierfabrik Scheufelen group of companies (together “Scheufelen”) which represent the Group’s entire interest in coated woodfree papers and the whole of the Graphic Papers business segment, to Paper Excellence BV (“Paper Excellence”), a privately owned pulp and paper producer, for total consideration of €38.5m, comprising cash consideration of €32.5m and the assumption of €6.0m of debt by Paper Excellence.
The full text of the announcement as a PDF is attached.