- June 01, 2008
Loparex Group has signed a Share Purchase Agreement with Mondi Coating concerning the sale of Loparex Oy (Lohja plant), Loparex Ltd. (Glossop plant), and Loparex's printing and slitting terminals in Poland and Thailand.
“The decision to exit these operations was made as part of Loparex Group's strategy to create sustainable growth by focusing on certain value-added products and expansion in emerging markets,” says Pentti Kallio, Loparex Group CEO.
The Loparex Group now will consist of Loparex LLC with operations in Iowa City, IA, Hammond, WI, Eden, NC, Cullman, AL, and the Willowbrook head office; Loparex BV in the Netherlands; Loparex Asia Pacific in Guangzhou, China, and Hong Kong, and Kaygee-Loparex in India, a 50% joint venture.
The sale will be closed after the necessary approvals have been obtained from competition authorities, estimated to be July 1, 2008.
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