MM Karton Sells Stake in Recovered Paper Companies

Source from:  tobaccojournal.com 07 Jan 2008 01/14/2008

Mayr-Melnhof Karton has announced that it will sell its majority interest in the recovered paper companies, Papyrus Group and Parek. After the approval by the antitrust authority and the disposition on the pre-emptive right of the minority shareholders to the Austrian waste management company, AVE, Hörsching, Mayr-Melnhof Karton is set to sell its 63.3 per cent share in Papyrus Group and its 94.5 per cent share in Parek Papierverwertungs Gesellschaft mbH. The two companies generated sales of approximately € 30 million in 2007, according to the company. Mayr-Melnhof said in a statment that with this sale, it continues its focus on its core business of cardboard production and folding carton manufacturing. Enditem