Displaying items by tag: european

Mondi Group confirms that it has signed an agreement with the Smurfit Kappa Group for the acquisition of its western European industrial and consumer bag operations, which consist of 4 plants in France, 3 in Spain, and 1 in Italy as well as certain sales offices.

The acquisition is in line with Mondi’s strategy to strengthen its leading market position in industrial and consumer bags in Europe and further increase the forward integration of kraft paper into bags.

Mondi confirms further that it has also signed an agreement with the Smurfit Kappa Group for the sale of all three of Mondi’s corrugated box plants in the UK. The shares in the business will be sold for a consideration of EUR 43m on a cash and debt free basis. The consideration will be satisfied in cash at completion. Proceeds will be utilised to reduce Mondi’s net debt. The business being disposed of had gross assets of EUR 60m as of 31 December, 2009 and profits before tax of EUR 2.0m in the year ended 31 December 2009.

The divestiture concludes a programme of restructuring the Group’s western European corrugated packaging and recycled containerboard portfolio and will enable Mondi to refine its geographical footprint around its core corrugated positions in central Europe and Turkey.

Both deals are conditional on customary completion conditions.

Published in European News
Thursday, 18 March 2010 12:35

Reorganising European sales

Norske Skog is reorganising its European sales organisation. The main changes are a general simplification of the sales office structure, and an increased focus on front line sales.

In the new model, the European sales organisation will consist of six regional sales hubs. The presence of our front line sales force and technical sales support in all markets will be assured through an increased use of home office solutions. In addition, customer critical services provided by the transaction centre in Antwerp, will be transferred to the regional sales hubs.

"The European publication paper market is in rapid change and the need for continued strong local presence and high quality technical sales support is more important than ever. Through the reorganisation of European sales we achieve both a simplified and more cost efficient structure, and an even tighter follow-up on Norske Skog's strong commitment to our customers", says senior vice president Jan Clasen.

Published in Financial News

The continued upward pricing cycle for pulp has recently intensified due to the unfortunate events in Chile which has led some pulp suppliers to suspend deliveries under force majeure. This is compounded by strikes at some transportation companies and ports in Finland together with severe weather conditions in Scandinavia. This has resulted in an extraordinary situation concerning both the availability and subsequent costs of this key raw material.

M-real has announced price increases for all uncoated paper products in reels, cut sizes and folio sheets across all European business by 8% as of 1 March.

In addition, a further increase in paper prices of 15% will become effective as of 15 April 2010 to be applied to all uncoated paper products in reels, large formats and cut sizes.

Further information:

Marcel Bigler
Head of Sales & Marketing, M-real Office Papers business area
Tel + 31 (0) 20 572 7550

Helga Disimimo
Head of Sales & Marketing, M-real Speciality Papers business area
Mob. + 49 172 293 0992

Published in European News
Tuesday, 02 March 2010 13:15

CEPI offers new statistics packages

CEPI – the Confederation of European Paper industries - has expanded its offer on statistics packages. Next to a full set of 'Annual Statistics' from the European pulp and paper industry, which includes country data as well as production figures, CEPI now offers several new packages including a quarterly and even monthly package of statistics.

The packages can be combined in a very flexible way. Four different statistics packages are available, which were created to meet the needs of stakeholders from the pulp and paper industry.

Download the Full Press Release here....>

Published in European News
Wednesday, 17 February 2010 16:00

When paper values meet EU values

CEPI comments and input for the consultation on the future "EU 2020" strategy: a new strategy to make the EU a smarter, greenersocial market. The EU Commission launched a consultation on the future EU 2020 strategy - a new strategy to make EU a smarter, greener and social market - on 24 November 2009 and asked for responses from stakeholders. Through this paper, CEPI - the Confederation of European Paper Industries - wishes to contribute to the consultation, give comments on the proposed vision for 2020 and the 3 thematic objectives, with a special focus on the industrial policy.

Download the full press release here....>

Published in European News
Wednesday, 10 February 2010 13:45

Stora Enso signs EUR 65 million loan agreement

storaensoStora Enso has signed an agreement with the European Investment Bank (EIB) for a EUR 65 million loan to be used for the Ostroleka power plant construction project in Poland. The loan agreement is part of the commitment by EIB to lend altogether EUR 230 million to Stora Enso for research and development and the Ostroleka power plant project.

"We have a long and good relationship with EIB and we are delighted that through this agreement EIB is supporting our power plant project to improve Ostroleka Mill's energy self-sufficiency and energy efficiency. Along with the Langerbrugge and Maxau energy investments, the Ostroleka power plant is one of our biggest cost improvement investments this year at our existing mills in Europe. The terms of the loan are very competitive," says Stora Enso CFO Markus Rauramo.

The Ostroleka power plant to be completed in the third quarter of 2010 will further improve the cost competitiveness of Stora Enso's operations in Poland. As announced on 3 November 2008, the total investment in the Ostroleka power plant is estimated at EUR 137 million.

For further information, please contact:
Jyrki Tammivuori, SVP, Group Treasurer, tel. +358 2046 21043
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242

Published in Financial News