SCA Transfer North American Packaging Operations to Metalmark Capital
Stockholm, Sweden, 07 March 2007 -- Today, the transfer of SCAs North American packaging operations to Metalmark Capital, was closed. Today´s closing implies that the purchase price, USD 400 million, has been paid in cash to SCA. The North American operations have annual sales of approximately USD 430 million.
The sold operations comprise protective packaging, consumer packaging, and temperature-assurance packaging solutions. The operations have a total of approximately 2100 employees and have accounted for approximately 10% of SCA's total sales within its business area Packaging.
This transaction will provide full coverage for the carrying amount of goodwill and other book values. Earnings per share will be affected in the short term by SEK -0.2 on a yearly basis, while the net debt will be reduced by approximately SEK 2.8 billion.
Metalmark Capital is a private equity firm established by the principals of Morgan Stanley Capital Partners (MSCP). Since 1986, the Metalmark Capital and MSCP funds have invested USD 7 billion of equity capital in more than 100 companies in a broad range of industries, including their focus sectors of industrials, healthcare, financial services, and natural resources. For more information on Metalmark Capital, visit www.metalmarkcapital.com
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. SCA creates value through knowledge of the needs of consumers and customers, regional presence, and efficient production. Sales are conducted in some 90 countries and production in about 40 countries. Annual net sales exceed SEK 96 billion (EUR 11 billion). SCA had approximately 50,000 employees at the beginning of 2006. SCA shares are traded on the Stockholm, London, and New York stock exchanges.