SCA Completes Offer, Now Major Shareholder in Vinda Tissue
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SCA, Stockholm, Sweden, has completed its offer for the Chinese tissue manufacturer Vinda and is now the majority shareholder with 59.95% of the shares. Vinda is the third largest tissue company in China, which is the second largest tissue market globally.
"It is positive that we are now the majority shareholder of Vinda. We see the potential to further strengthen the company. Vinda is a well-known and well-managed company in the fast-growing Chinese market," said Jan Johansson, president and CEO of SCA.
"Since its beginnings back in 1985, Vinda has grown and captured market shares in the tissue segment. SCA aims to develop collaboration with Vinda and utilize its extensive and robust distribution network," Johansson added.
SCA will consolidate Vinda as of the first quarter of 2014.
   
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