Smurfit Kappa will part with its Solidboard and Graphicboard operations in the Netherlands, Belgium and the UK. Investment company Aurelius will acquire eight of SKG's sites.
Smurfit Kappa has signed an agreement to sell its Solidboard and Graphicboard operations in the Netherlands, Belgium and the UK to the Aurelius Group, a German investment company. The parties agreed not to disclose the purchase price.
The operations being sold have net assets amounting to €42 million, and comprise two graphicboard mills, an integrated solidboard operation consisting of two mills and four converting sites, said Smurfit Kappa. Last year, the operations generated sales revenues of over €240m and an EBITDA of €14m with 830 employees. Smurfit Kappa explained that the transaction represents a further progression of the group's objective to focus on its core business as a global producer of paper based packaging solutions.