SCA acquires additional shares in Asian packaging company
SCA has increased its ownership interest to 65% in Central Package
Group, which holds a stable position on the Chinese packaging market.
In January 1999, SCA acquired 11% of the shares in the Singapore-based
packaging company Central Package, an ownership interest that
successively increased to 48%. SCA has now reached an agreement with
minority owners covering the acquisition of additional shares. Following
the current transaction, SCA's interest increases to 65%, with the
ambition of further increasing the ownership interest to more than 90%.
The founder of Central Package, Anthony Chen, will retain a minority
During the period with SCA as a part-owner, Central Package has shown
very favourable and profitable growth. Annual sales currently correspond
to slightly more than USD 95 M (about SEK 750 M), with an EDITDA margin
of about 16%. The company holds a stable position on the Chinese
packaging market, which is showing growth of about 10% annually. Central
Package has some 20 converting units in China specializing primarily in
production of corrugated board and protective packaging. In addition to
operations in China, Central Package also has converting units in
Singapore, Malaysia, Thailand and Indonesia.
Stockholm, 11 November 2003
SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ)
Communications and Investor Relations
For further information, please contact:
Jan Åström, President and CEO. Phone: +46 70-586 07 01.
Peter Nyquist, Senior Vice President, Communications and Investor Relations.
Phone: +46 70-575 29 06.
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