(UPM, Helsinki, 1 June 2012 at 9:30 EET) – UPM Raflatac, one of the world’s leading suppliers of self-adhesive labelstock, has signed an agreement to acquire the business operations of Gascogne Laminates Switzerland SA. The parties have agreed not to disclose the purchase price. The closing of the acquisition is subject to regulatory approvals.
Gascogne Laminates Switzerland is the labelstock business of Gascogne Group, a major player in the French wood industry. Gascogne’s labelstock operations’ sales totaled EUR 44 million in 2011. The company employs approximately 110 persons in its factory in Martigny, Switzerland.
“UPM Raflatac in Europe has focused in the past years especially in growth in special labelstock products. Gascogne Laminates has a strong and long-standing brand in this product area in Europe and through this acquisition we are proud to add those capabilities to our product platform. As a result of this transaction, customers will enjoy stronger speciality offering available through UPM Raflatac’s extensive distribution network,” says Tapio Kolunsarka, Senior Vice President, Europe, Middle-East and Africa.
“We are pleased to reach an agreement with UPM Raflatac, which is one of the leading and most respected players in the labelstock market. We strongly believe that the combination of UPM Raflatac and Gascogne’s labelstock operations will result in strong benefits for all stakeholders. I take this opportunity to thank the Gascogne Laminates Switzerland teams for their professionalism and loyal support over the years," says Frédéric Doulcet, CEO of the Gascogne Group.
For further information please contact:
Mr Jussi Vanhanen, President, UPM Raflatac, tel. +358 40 567 2458 (1 June 2012, 9:30 CET onwards)
Mr Tapio Kolunsarka, Senior Vice President, UPM Raflatac Europe, Middle-East & Africa, tel. +358 40 5500 953 (2 June 2012 onwards)
This press release will be available in other languages under ‘News & Publications’ at: www.upmraflatac.com .
Notes to editors
UPM Raflatac , part of UPM’s Engineered Materials business group, is one of the world’s leading suppliers of self-adhesive label materials. UPM Raflatac has a global service network consisting of 13 factories on six continents and a broad network of sales offices and slitting and distribution terminals worldwide. UPM Raflatac employs 2,400 people and made sales of over EUR 1.1 billion (USD 1.6 billion) in 2011. Further information is available at www.upmraflatac.com.
UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 24,000 people and it has production plants in 16 countries. UPM's annual sales exceed EUR 10 billion. UPM's shares are listed on the NASDAQ OMX Helsinki Stock Exchange. UPM – The Biofore Company – www.upm.com
Gascogne Group is a major player in the French wood industry, present at every stage in optimising the forest resource; it is the only French player fully integrated throughout the entire chain of the wood-paper-conversion sector. It operates four complementary divisions: Gascogne is France’s leading multi-specialist producer of wood products, the world’s leading producer of natural machine glazed kraft paper, one of the European leaders of industrial and consumer sacks and one of the world’s leading producers of laminates for packaging and protection applications.
The Gascogne Group employs 2.273 people and posted sales of € 320m in 2011 (excluding the Laminates Division). It operates in 70 countries and 5 continents, with 18 subsidiaries and 20 production units. Gascogne Group shares are listed on the Paris Stock Exchange. Gascogne Group - www.groupe-gascogne.com
UPM, Corporate Communications
Media Desk, tel. +358 (0)40 588 3284