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Management Side
Arjowiggins has entered into exclusive negotiations with Fineska for the sale of Arjowiggins Graphic and Arjowiggins Creative Papers

Boulogne-Billancourt (News release) -- Arjowiggins has announced the planned sale of Arjowiggins Graphic and Arjowiggins Creative Papersto Fineska BV, the parent company of Eska Group, the renowned Dutch-based graphic cardboard business controlled by Andlinger & Company, a private investment group which also owns Crown Van Gelder (CVG), a Dutch specialty papers manufacturer.

Information and consultation procedures have been initiated with the relevant work councils and the planned sale will be submitted for approval by the national competition authorities in all countries where it is required. The transaction is expected to complete by the end of October 2018.

The gross amount of the transaction should be €125 million. Given the companies' debts and other liabilities, net proceeds from the sale should be in the region of €20 million (to be adjusted at completion of the transaction in line with balance sheet items).

The businesses to be divested reported sales of €528 million in 2017, or 19% of Sequana Group's consolidated sales, of which 61% comprised recycled graphic and specialty (i.e., laminated and transfer) papers and 39% premium fine papers and specialty papers (i.e., bookbinding and tracing paper). They operate a total of eight mills located in France, the UK, Spain and China and employ over 2,000 people.

In the wake of the major restructuring operations carried out in 2014 and 2015 to refocus on specialty papers, these two divisions generated positive cash-flow in 2017 and they should report a profit in 2018.

Following a competitive bidding process that was part of Sequana's strategy of weighing up its options and playing its part in the necessary consolidation of the paper industry, Sequana's Board of Directors has chosen Fineska's offer. This operation, which is satisfactory for Sequana, would also safeguard the future development of Arjowiggins Graphic and Arjowiggins Creative Papers within a private investment group that has been supporting CVG and Eska - two renowned players in the specialty papers and graphic cardboard sectors - for a number of years.

This transaction is a major milestone for Sequana that would mark its exit from all paper manufacturing activities with the exception of Arjobex. Since 2008, Sequana has been refocusing on its paper distribution business where its subsidiary Antalis boasts leading positions in Papers, Industrial Packaging and Visual Communication in Europe.

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EMPLOYMENT OPPORTUNITIES:

* We are looking for a Production Shift Team Leader to maintain high standards, plus ensure safety policies and regulations for a company located close to Chicago's Midway Airport. If you are experienced team leader who has a four-year degree in an engineering/technical field (paper science degree preferred, and experience in recycled linerboard or corrugating medium paper mills is a plus), we are looking for someone like you! If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* A family owned and operated corrugated packaging solutions company in Illinois is looking for an experienced Maintenance Technician to maintain production and quality by ensuring operation of machinery and mechanical equipment. Relocation and other perks are available to the right candidate who is committed to working third shift. If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* Are you an experienced Maintenance Mechanic and would like to work for a family owned and operated corrugated packaging solutions company that invests in the best equipment and technology? If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* A leading company in the corrugated solutions packaging business is looking for a experienced Electrician. The right candidate will possess the following skills: electrical; hydraulic; automatic drives (basic component machines 122 to 440 volts). If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* An expanding company is looking for a Corporate Industrial Electro-Mechanical Engineer near Allentown, PA. Relocation is available. Do you have a storied list of unique electrical and mechanical engineering skills you're ready to take to the next level? Do you envision yourself in a corporate-level leadership role that your experience finally merits? And do you relish any opportunity to troubleshoot and solve real-time problems, all while designing and installing new services and systems that will not only ensure safety, but also turn a potentially hazardous work environment into a continuously thriving one? If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* An expanding company is looking for hands-on Electro Mechanical Maintenance Techs in Conyers, Georgia. Preference will be given to candidates with higher education and additional certificates or training. You must be able to work any shift. Pay is negotiable with excellent perks and benefits. Relocation assistance is available to the right candidate. If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

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Jim Thompson is back again...with a new book on a taboo subject: the personalities in the pulp & paper industry. Jim has written in the past on many subjects based on his four plus decades in the worldwide pulp and paper industry. This new book is packed full of information valuable to the senior member of the industry as well as the recent entrant. A must for every pulp and paper library.


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