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SCA strengthens its presence in South America
In a press release issued yesterday, it was announced that SCA is to acquire the remaining 50% in the Chilean hygiene company PISA (Papeles Industriales S.A.), and will after the transaction own 100% of the company. The purchase price is approximately 520 MSEK.
PISA's turnover in 2011 was approximately 780 MSEK. The company operates primarily in the Away-From-Home and consumer tissue markets, which represent almost 30% and almost 70% of the company's turnover respectively. In addition, incontinence care products under SCA's global brand Tena have been introduced in Chile through PISA.
SCA acquired 50% ownership of PISA during 2003. After the acquisition announced yesterday, which is expected to be closed by the end of April, PISA will be a fully-owned subsidiary to SCA.
"The time is ready for us to take the next step in our expansion in Latin America, where the PISA acquisition further strengthens our presence on this important growth market," said Jan Johansson, CEO and President of SCA.
PISA holds the number two position in both AFH and consumer tissue in Chile. The company has more thab 400 employees and a production facility in the capital Santiago.
3rd May 2012