Monday, 15 July 2013 11:00

Cham Paper Group sells its Italian paper mills to Delfort Group

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cham paper group logoThe Cham Paper Group sells its Italian paper mills located in Carmignano and Condino to Delfort Group and thereby backs out of the base paper production. Based in Traun, Austria, Delfort Group produces and distributes speciality papers and has around 1,750 employees at five factories in Austria, Hungary, the Czech Republic and Finland. Similarly to the Cham Paper Group, the family-run company has a widely recognised market position in a range of areas within the speciality papers market.

During the last few months, the Board of Directors of the Cham Paper Group has been evaluating strategic options which, after the comprehensive restructuring of the last 18 months, bring back sustainable growth to the speciality paper business. To integrate the two complementary Italian mills into the Delfort Group was found to be the promising option.

The acquisition is subject to approval by the responsible regulatory authorities. The closing of the transaction is expected to take place in the fourth quarter of this year. The transaction value (enterprise value) amounts to approx. EUR 86 million and includes financial liabilities of approx. EUR 45 million, which are taken over by the acquirer. The net purchase price will be paid in cash. As agreed by both parties, further details of the share purchase agreement will not be disclosed.

The Cham Paper Group activities in Switzerland are not affected by the divestment of the Italian mills. Starting from this year, the industrial activities of the Group in Switzerland have been focusing on the finishing (coating technology) of external base paper as well as the development, commercial launch and distribution of high-grade product groups and services. Moreover, the Group is planning to transform its “Papieri” site in Cham into a new residential and working area.

Additional Info

Cham Paper Group is a leading manufacturer of coated speciality papers. The group generates value added for its customers by providing finishing-based functional capabilities. Founded in 1657, at its three locations in Switzerland and Italy the company develops and manufactures speciality papers for use in the consumer goods, industrial release and digital imaging sectors.

For further information please contact:
Media and IR office of Cham Paper Group Holding AG
c/o Dynamics Group
Edwin van der Geest / Philippe Blangey
E-mail: media@cham-group.com and/or investor@cham-group.com
Phone: +41 43 268 32 32
Swiss Security Number / ISIN / Ticker:
193 185 / CH0001931853 / CPGN 
Registered Shares: Cham Paper Group Holding AG
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