SCA has signed an agreement to sell its Asian packaging operation to International Paper for a sum of US$200 million.
In 2009, the Asian operation reported sales of around US$250 million and had approximately 4,500 employees at 15 plants in China, Singapore, Malaysia and Indonesia.
“WE divest our packaging business in Asia in line with our strategy to focus on our hygiene products there,” says Jan Johansson, president and CEO of SCA.
The transaction is expected to be finalised during the second quarter of 2010, subject to approval from the relevant authorities.
