Business Services Industry
PaperlinX wraps up Europe plan.
Australasian Business Intelligence, January, 2007
Byline: Sue Mitchell
Jan 30, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Australian-listed paper manufacturer, PaperlinX, has entered into an asset swap arrangement with Antalis. PaperlinX has agreed to buy Antalis's Italian paper merchanting operation. In return, Antalis will purchase PaperlinX's Axelium operation in France. PaperlinX first entered the European market in 2003, via the $A1.2 billion acquisition of Buhrman's paper sales operation. However, the group lacks scale in France and has experienced difficulty in achieving good returns. PaperlinX says the sale and purchase prices have not yet been finalised. The group's shares closed $A0.05 higher on 30 January 2007, at $A3.55.
Publication Date: 31 January 2007...
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