December 19, 2012
SCA is divesting its Austrian publication paper mill in Laakirchen to Heinzel Group. In conjunction with the divestment, SCA and Heinzel Group have concluded a sales cooperation agreement.
In 2011 Laakirchen reported totaled sales of EUR 335 million and had just over 500 employees. The annual capacity amounts to more than 500,000 tons.
The initial purchase consideration is EUR 100 million with a possible maximum additional purchase price of EUR 100 million based on a two-year profit-sharing model. In conjunction with the transaction, an impairment of EUR 50 million has been recognized, which will be charged to profit in the fourth quarter of 2012.
In conjunction with the divestment, SCA and Heinzel Group have concluded a sales cooperation agreement. SCA Forest Products’ and Heinzel Group’s sales organisations complement each other and SCA will have a stronger representation on several markets for its publication paper, pulp and kraftliner products.