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Paper Recycling September 12, 2017 11:30:14 AM

Chinese Conglomerate Announces 100% Acquisition of Nordic Paper

Paul Ploumis
ScrapMonster Author
Nordic Paper currently runs three mill plants in Sweden and one in Norway.
Chinese Conglomerate Announces 100% Acquisition of Nordic Paper

SEATTLE (Scrap Monster): Nordic Paper, the leading Scandinavian producer of high quality paper and pulp has announced that its ownership will be passed on to Chinese Anhui Shanying Paper. The company press release stated that a co-operation agreement has already been signed between both parties. The signing in ceremony was attended by top officials from both companies. Also present at the function were Swedish Minister of Enterprise and Innovation, Mikael Damburg and the Chinese Communist Party Secretary of the Zhejiang Province, Che Jun.

As per the agreement, Shanying Paper will acquire all of Nordic paper’s shares from Specials Situation Venture Partner III and Petek GmbH, which hold 60% and 40% of the shares of the company respectively. The acquisition of the Swedish kraft and greaseproof paper manufacturer is considered to be part of Shanying Paper’s plans to diversify its product portfolio and expand its geographical presence.

Per Bjurbom, CEO, Nordic Paper noted that the company is eagerly looking forward to the new ownership. He hoped that the takeover by a long-term industrial group will help the company achieve greater heights and bring in more benefits to the employees in the long run. Further, Bjurbom stated that it will continue to remain as an independent European pulp and paper company. The existing business model and operations will continue to remain as it is, even after the acquisition, he added.

Nordic Paper currently runs three mill plants in Sweden and one in Norway. The Saffle, Varmland site consists of a pulp mill with 30,000 tpy capacity and two paper machines of nearly 30,000 tonnes of greaseproof paper. The two paper machines at Amotfors produce nearlt 40,000 tonnes of specialty unbleached kraft paper. Backhammar facility comprises of a pulp mill with 230,000 tpy of unbleached pulp capacity and two paper machines that produce around 140,000 tonnes of unbleached kraft paper. In addition, the Greaker, Norway facility has two paper machines capable of producing 35,000 tonnes of greaseproof paper per year.

Anhui Shanying Paper is part of the Chinese Taison Group. The company’s core business consists of recycled fibre trading, kraft paper manufacturing, packaging, design, printing and logistics. According to industry sources, the big ticket acquisition will make Shanying Paper one of China’s largest paper and packaging manufacturer.

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