Cham Paper Group divests Italian paper mills

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The Cham Paper Group has sold its Italian paper mills to Delfort Group.

During the last few months, the board of directors of the Cham Paper Group has been evaluating strategic options which, after the comprehensive restructuring of the last 18 months, bring back sustainable growth to the specialty paper business.

This will see the industrial activities of Cham Paper Group in Switzerland focus on the finishing coating technology of external base paper, as well as the development, commercial launch and distribution of high-grade product groups and services. Moreover, it is planning to transform its site in Cham, Switzerland into a new residential and work area.

The sale of the Italian mills, located in Carmignano and Condino, to Delfort Group forms part of this strategy.

As a result of this sale, Cham Paper Group removes base paper production from its operations.

The transaction value amounts to approximately €86 million and includes financial liabilities of around €45 million, which have been taken on by Delfort Group. The net purchase price will be paid in cash.

Based in Traun, Austria, Delfort Group produces and distributes speciality papers, and has around 1,750 employees at five factories in Austria, Hungary, the Czech Republic and Finland.

The Cham Paper Group activities in Switzerland are not affected by the divestment of the Italian mills.

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