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P&G to Sell Western Europe Tissue/Towel Business to SCA
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Cincinnati, Ohio, USA, 12 March 2007 -- /PRNewswire/ -- The Procter & Gamble Company (NYSE:PG) today announced that it will divest its Western European tissue/towel business to SCA, a global consumer goods and paper company. The deal involves the sale of manufacturing assets, P&G's Tempo brand in Europe and Hong Kong, and the licensing of Charmin & Bounty trademarks in Europe. Exact timing will depend on the successful completion of all regulatory processes in Europe.

"This is a strategic choice to focus on continued growth of P&G's tissue, towel and facial tissue businesses in the U.S., Canada, and Mexico led by billion dollar brands Bounty and Charmin," said David Taylor, president of P&G's global tissue/towel business. P&G's Charmin, Bounty and Puffs brands in the United States, Canada, and Mexico are not affected by the SCA transaction in Europe.

P&G expects that employees at five manufacturing plants in Europe will become employees of SCA at the deal closing date. P&G's plants are located in Manchester, England; Neuss and Witzenhausen, Germany; Lucca, Italy; and Orleans, France. The divestiture represents about 1% of P&G's total sales.

About Procter & Gamble

P&G employs more than 135,000 people in more than 80 countries worldwide. Visit http://www.pg.com/ for the latest news and in-depth information about P&G and its brands.

About SCA

SCA is a global consumer goods and paper company that develops, produces and markets personal care products, tissue, packaging solutions, publication papers, and solid-wood products. Sales are conducted in some 90 countries. SCA has annual sales in excess of SEK 101 billion (about EUR 11 billion) and production facilities in more than 40 countries. SCA had approximately 51,000 employees at the beginning of 2007. SCA shares are traded on the Stockholm, London, and New York stock exchanges. For more information, visit http://www.sca.com/

Source: Procter & Gamble


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