STOCKHOLM, Sweden, March 29, 2004 (PRIMEZONE) -- SCA has reached an agreement with Anthony Chen, founder of the packaging company Central Package, and with a minority owner, to acquire additional shares in the company. On completion of this transaction, SCA's ownership interest rises from 65% to 92.5%.
Sekisui, a Japanese chemical company that among other things produces polystyrene, an important raw material for protective packaging, will retain its shareholding of 7.5%. The business will be consolidated in SCA as of April 2004. The total purchase price for 92.5% of the shares amounts to SEK 725 M, which corresponds to an EBITDA multiple of 6.8 based on 2003 earnings.
Central Package has sales corresponding to approximately SEK 800 M. Most of the company's operations are conducted in China, where the company has some 20 converting units at its disposal. Central Package also has production units in Singapore, Malaysia and Indonesia.
For further information, please contact: Peter Nyquist, Senior Vice President, Communications and Investor Relations. Phone: +46 70-575 29 06.
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