Sappi Limited, a leading global producer of dissolving wood pulp, specialities and packaging papers, printing and writing papers and biomaterials, yesterday announced that all conditions precedent relating to the acquisition of the speciality paper business of Cham Paper Group Holding AG (CPG) have been fulfilled and closing has been completed.
The transaction includes the acquisition of CPG’s Carmignano and Condino Mills in Italy, its digital imaging business located in Cham, Switzerland as well as all brands and know-how.
Commenting on the transaction Steve Binnie, Chief Executive Officer of Sappi Limited, said:
“I am very pleased that we have been able to finalise this acquisition so quickly. We are now able to move with speed to combine Cham’s strong brands, employees and assets with Sappi’s global presence. Our existing as well as new customers will benefit from a broader range of products coupled with our well-established excellent customer service. This transaction strengthens Sappi’s specialities and packaging papers business both in Europe and globally, improves our profitability and is another significant milestone towards realizing our Vision2020 goal.”