ÅR Packaging divestment cancelled
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ÅR Packaging Group announced in November 2013 that it would divest all of its businesses. Due to the failed sale of the Tobacco business the divestment process has been cancelled.
ÅR Packaging Group announced on November 8, 2013 that it had signed agreements with a view to divest all ÅR Packaging businesses. The operations of ÅR Packaging consist of Tobacco, Specialties and Food packaging businesses.
However, the Tobacco business divestment will not be completed.
Simultaneously, ÅR Packaging has ended the divestment negotiations regarding the Specialties packaging and the Food packaging operations.
The shareholders of ÅR Packaging have decided to continue as shareholders of ÅR Packaging Group and are committed to develop the company further. In this context, concrete actions to further strengthen the group will be implemented.
“As the divestment of ÅR Packaging will not happen, the shareholders of ÅR Packaging Group have made a clear future-oriented decision to further develop the company. Development measures taken in the last few years have left ÅR Packaging considerably more competitively positioned in the market, and the year 2013 proved to be a very strong year for ÅR Packaging. This forms a solid base for moving the company further. We are convinced that we can further strengthen and develop the company in accordance with our strategy together with our fantastic staff, customers and suppliers.
We thank our customers, suppliers and employees for their patience and continued belief in the ÅR Packaging Group,” says Harald Schulz, President and CEO of ÅR Packaging Group AB.
Source: A&R Carton
