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Planned sale of Arjowiggins’ Graphic and Creative Papers businesses canceled
The negotiations initiated in July 2018 with Fineska BV (the Andlinger & Company group) for the sale of Arjowiggins’ Graphic and Creative Papers businesses continued in an extremely deteriorated market conditions context, notably hit by significant and successive price increases in pulp, and to a lesser extent in energy.
In this context and considering the lack of visibility for FY 2019, Fineska BV has stopped the sale process.
Because of this decision, Sequana is reviewing the different strategic options to be implemented.
Sequana is a major player in the paper industry, boasting leading positions in each of its two businesses:
- Antalis: leader in B2B distribution of Papers and industrial Packaging and number two in the distribution of Visual Communication media in Europe with around 5,500 employees based in 41 countries.
- Arjowiggins: Global manufacturer of recycled and specialty papers, with around 2,300 employees.
Sequana reported sales of €2.8 billion in 2017 and employed some 7,800 people worldwide.