M-real sells Belgian packaging unit to France's Autajon |
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Published
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Tue, 11 Dec 2007 15:32
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HELSINKI (Thomson Financial) - M-real said it has sold M-real Meulemans SA, its Belgian packaging unit, to France's Autajon Group for an undisclosed sum.The sale completes a restructuring programme unveiled by the Finnish forestry group in October last year to raise funds to help pay off debt.It had set an initial target of raising 500 mln eur by selling off assets, but said that after today's sale of Meulemans, the figure had reached about 700 mln eur.Meulemans employs about 240 people and generates yearly sales of about 30 mln eur.M-real said its disposal will have 'no significant impact' on group operating earnings.james.etheridge@thomson.comje/rfwCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Graphic Packaging Intl outlook raised to stable on improving results - S&P 