MELBOURNE, Australia, Nov. 18, 2013 (Press Release) - Amcor announces today that it has signed an agreement to acquire Detmold Flexibles, a privately-owned Australian flexibles packaging business for $50 million. The business will be part of Amcor Flexibles Asia Pacific.
Detmold Flexibles operates two plants in Melbourne and has sales of approximately $55 million. The acquisition price represents an EBITDA multiple of 6.6 times and after the realisation of synergy benefits return on funds employed are expected to be more than 20%.Read more
VIENNA, Austria, Nov. 7, 2013 (Press Release) - MM Packaging today signed an agreement to acquire three A&R Carton sites one each in St. Petersburg, Timashevsk, Southern Russia, and Augsburg, Germany.
The market share and customer portfolio fit very well into the ongoing growth strategy of MM Packaging and generate revenues worth EUR 122 million in 2013. About 50,000 tons of cartonboard are converted per annum.Read more
SINGAPORE, Nov. 5, 2013 (RISI) - China's Baoding Gangxing Paper has ordered a tissue machine from Kawanoe Zoki for its mill in Baoding city, Hebei province.
The new BF-1000-type unit, which has a width of 2.76 m and a speed of 1000m/min with a capacity of 15,000 tonnes/yr, is scheduled to come online in July 2014, according to the Japanese supplier.
The order includes a former, a Yankee dryer, and a suction roll, along with a heat recovery and monitoring system.Read more
STOCKHOLM, Oct. 28, 2013 (Business Wire) - SCA has secured an ownership share of 56.33 % in the Chinese tissue manufacturer Vinda, signifying that the terms for completion of the offer have been met.
The acceptance period expires on November 11, 2013.
On September 9, 2013, SCA announced that the company was planning to make a cash offer for Vinda, which is China's third largest tissue manufacturer. The complete prospectus was published on October 7, 2013.
Prior to the publication of the offer, SCA held approximately 21.7% of the shares in Vinda.Read more
HELSINKI, Oct. 30, 2013 (Press Release) - The EMEA (Europe, the Middle East and Africa) area organization of Metso's Pulp, Paper and Power business, the future Valmet, has completed statutory negotiations concerning its operations in Finland. The negotiations began on August 5, 2013.
The negotiations were part of a global cost competitiveness program launched by Metso in April 2013. The program aims at a reduction of approximately EUR 100 million in the annual costs of the Pulp, Paper and Power business by 2015.Read more
GRAZ, Austria, Oct 30, 2013 (Press Release) -Read more
WINTERTHUR, Switzerland, Oct. 21, 2013 (Press Release) - Sulzer Pumps has acquired Tartek Oy, a specialist in development, manufacture, repair and maintenance of high quality mechanical seals. With this acquisition, Sulzer Pumps further expands its technology portfolio and is well positioned to provide extended seal offerings to customers in the pulp and paper, power, water, general and chemical process industries.Read more
HELSINKI, Oct. 24, 2013 (Press Release) - Metso has started a global efficiency program covering its continuing operations following the demerger. The program is designed to improve Metso's cost structure and operational efficiency and is expected to yield annual savings of around EUR 100 million in operational costs by the end of 2015. The majority of this total is expected to be achieved during 2014.
According to Metso's President and CEO Matti Kähkönen, efficiency improvements are needed to secure Metso's competitiveness going forward.Read more