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Kinnevik subsidiary to acquire German packaging company

1/23/2002 8:00 AM

Industriförvaltnings AB Kinnevik subsidiary, Korsnäs Packaging, has agreed to acquire the paper sack operations of Niedermayr Papierwarenfabrik AG, located at Rosenheim in Germany, subject to approval by the Monopolies Commission and an extraordinary meeting of the company's shareholders.
 
The acquisition has been recommended by the directors and approved by the supervisory board of Niedermayr Papierwarenfabrik AG. The company produces 40 million paper sacks annually and currently employs 90 persons.
 
Korsnäs Packaging is the world's third largest producer of paper sacks, with operations in 14 countries in Europe and North America.
 
 
Stockholm January 23, 2002
 
 
 
For further information:
Peter Buckley, CEO, Korsnäs Packaging, +33 1 49 67 08 90