STOCKHOLM, Sweden, April 01, 2004 (PRIMEZONE) -- SCA has today concluded an agreement with the Mexican company Copamex covering the acquisition of 50% of the common stock of the company that owns Copamex's tissue business. The acquisition is conditional upon completion of a debt refinancing of the Copamex Group. SCA has undertaken to contribute to this refinancing with at total amount of approximately USD 100 M, or SEK 760 M, in the form of common and preferred stock.
With a market share in the consumer segment of about 27%, Copamex is the second largest tissue producer in Mexico. Sales in 2003 amounted to approximately SEK 1,750 M. The Mexican tissue market has shown an average annual growth of about 6% since 1995. SCA and Copamex are already partners in Sancela de Mexico, a company engaged in production and sales of feminine hygiene- and incontinence products for the Mexican and Central American markets. Sancela has annual sales of about SEK 725 M and, following completion of the refinancing, Sancela will form part of the jointly owned tissue company.
More detailed information about the transaction will be provided when the debt refinancing of the Copamex Group has been completed.
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