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Sequana completes sale of Wizernes site to Wizpaper
Arjowiggins' parent Sequana has completed the sale of the idled Wizernes coated woodfree paper mill to the French company Wizpaper, according to Euwid. According to Sequana, the transaction will have no significant impact on Arjowiggins' results or financial position.
Wizpaper was founded by the local entrepreneur Henri Bréban, who is also running the packaging company Express Packaging.
The former fine paper mill will reportedly be converted to the production of corrugated case material. The investment sum totals €16m, of which 3.2m will be provided by national and regional development funds, according to a press release.