• Sweden edition
 

Sweden's SCA offers Tea Party-backers billions for tissue firm

Published: 10 Nov 2011 14:02 GMT+01:00
Updated: 10 Nov 2011 14:02 GMT+01:00

"SCA has delivered a biding offer to acquire Georgia-Pacific's European tissue operations," the Swedish company said in a statement.

"The deal is a strategic fit and will strengthen our product offering and geographic reach in Europe," SCA president and chief executive Jan Johansson said, adding "it also leads to substantial synergies."

Georgia-Pacific, one of the world's biggest makers of tissue, pulp and paper, last year saw its European tissue business pull in sales of €1.25 billion euros.

"The annual synergies are estimated at €125 million, with full effect in three years after closing," SCA said, adding that related costs were expected to tick in at 130 million euros.

"Already in year one, the transaction is estimated to contribute to an increase of earnings per share and cash flow. With fully realised synergies, earnings per share are expected to increase with approximately 1.70 kronor," it said.

SCA said it had the needed credit facilities to complete the deal to buy the Georgia-Pacific unit, which among other things makes the widely-known Lotus brand of tissue paper and counts some 5,000 employees and 15 production sites in seven countries.

The Swedish company did not say when it expected the deal to close, pointing out that Georgia-Pacific's acceptance of the offer would depend on the outcome of discussions with employee representatives.

If approved by the American company, the deal would also still need a green light from competition authorities, SCA said.

Following the news, SCA saw its share price rise 1.2 percent in early morning trading on a Stockholm stock exchange down 1.14 percent.

AFP/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

17:16 November 10, 2011 by cogito
The headline and introduction contain "facts" (???) which are not supported--or even mentioned--in the article.

Who is the "journalist" responsible for the article. There is no byline.

Cowardice? Amateurism?

Whatever. TL loses credibility.
06:43 November 11, 2011 by grey haired gent
Do you have real proof of the fact that the Koch bros are responsible for starting and supporting the "Tea Party" or are you just repeating the "Liberal" talking points of the progressive wing of the democratic party.

Seems the liberals are afraid of the Tea Party. Guess theyr'e a threat to socialism . By the way ,hows socialism doing in Europe. You know , Portugal, Italy,Spain, Greece and so on. I mean all they had to do was ask any Russian about Marx and socialism.They could tell you how good it was
07:54 November 11, 2011 by shahislam
Even though not successful this time around it was a good research.

Not to be unheathily worried because all is being done by the creations and the creations have the defending power too. Bringing all the too rich guys in oil or energy business under "New tax rules (to be passed soon)" can easily solve these kind of small issues.

We the human, with a good man in the Western leadership, are now capable of removing even a menmaid city in a better location. We have millions of employable welfare recipients, skilled labours sitting idle.

If not today, tomorrow we won't have no choice but to get used to inevitable changes of new era as follows:

Whenever, current "Tax rules & Laws" and the professional Capitalist formulas of modern Economy are failed, that gives a signal to get back again to basic accounting of Socialism for redistribution of wealth for a limited time.

Money is a token, fruitful-positively usable to exchange mainly labours and not to sit as numbers in the banking system as fortunes of businessmen. Men-made new rules such as '$ One million maximun per person income is allowed' and rest will go to the global public funds such as UN's and private and public credits or debts will be wiped off, just like recent Gaddafi's etc. are capable of totally changing present bad financial situation in the West including our USA or tomorrow's North-America.

WE still can print it in volumes, pay off some of the debts, distribute as "must be spent vouchers and collect it back as revenues" and handle the situation by inviting foreign (until our available citizens join) labours @ minimum wages, -like Saudi-Arabia or Libya, to make and produce here everything we need everyday, because we are still blessed and we have free lands and all kind of minerals here too.

There is another preventive solution to be applied against worst kind of world situation of economy. It will be so easy that presently certified economists cannot even dream about.
12:31 November 11, 2011 by Lavaux
I don't see the relevance of the Tea Party or Koch Bros. to SCA's offer since neither are the offeree. If I were a leftist, however, the mere mention of Tea Party or Koch Bros. would transport me to paroxysms of hateful incoherence. Lucky for me I don't suffer from such mental defects.

I get a big kick watching the media push lefty buttons for circulation. The effect in operation was first demonstrated by Pavlov and his dog. "Koch Bros.," ... *drool* "Tea Party," ... *slobber* "Corporate jets," ... *growl* "Tax the rich," ... *wag tail* "The Wealth Gap," ... *bark* Etc.
02:08 November 16, 2011 by Marc the Texan
Why should this even be an issue? I'm not even close to being a tea partier, but how is it any different than buying a company from a Democrat? The tone of this article implies that the Tea Party is some dastardly organization. As far as I'm aware, the only issues relevant to the Tea Party is to cut government spending and taxes.
Today's headlines
Race to be scrapped from Swedish legislation
Integration Minister Erik Ullenhag meets children in Husby, Stockholm. Photo: Jonas Ekströmer/TT

Race to be scrapped from Swedish legislation

The Swedish government announced that it plans to remove all mentions of race from Swedish legislation, saying that race is a social construct which should not be encouraged in law. READ  

US aircraft 'violates' Swedish airspace

US aircraft 'violates' Swedish airspace

A mystery airplane that passed over Swedish airspace recently has been revealed as an American aircraft, sources revealed on Thursday. READ  

Elite schools stripped of 'special' privileges

Elite schools stripped of 'special' privileges

Sweden's three elite boarding schools can no longer charge tuition fees, the government announced on Thursday, in a string of changes following a two-year review. READ  

Bildt lays out four steps to Gaza peace
Photos: TT

Bildt lays out four steps to Gaza peace

Swedish Foreign Minister Carl Bildt stated that there are four steps to achieving peace in Gaza, and that it begins with removing the blockade - which has "played into Hamas' hands". READ  

Malmström snags EU commissioner post again

Malmström snags EU commissioner post again

Cecilia Malmström has been nominated to be the European Commissioner for another five years, Sweden's prime minister announced on Thursday. READ  

Stockholm Pride 2014
In Pictures: Stockholm's Historic Pride Party
Conchita Wurst belts out a ballad. Photo: Rebecca Jacobs

In Pictures: Stockholm's Historic Pride Party

With Stockholm's Pride Week in full swing, The Local's Rebecca Jacobs heads on down to the traditional Historic Party to take in the colours, Conchita, and the community. READ  

Two to hospital after Stockholm fire

Two to hospital after Stockholm fire

Two people were taken to hospital in the early hours of Thursday morning after a fire began in their central Stockholm apartment. READ  

Salmonella prompts Coop hamburger recall
Photo: Jim Cole/TT

Salmonella prompts Coop hamburger recall

Swedish supermarket chain Coop has recalled its in-store brand of fresh hamburger meat after a routine check revealed traces of salmonella in the meat. READ  

What's On in Sweden
Photo: Roger Vikström/TT

What's On in Sweden

It's Pride Week in Stockholm. Find out more about the celebrations (including the biggest Pride Parade in Scandinavia) as well as plenty of other activities in Sweden's three biggest cities. READ  

Sweden resumes aid to 'anti-gay Uganda'
Hillevi Engström and protesters against Uganda's anti-gay laws. Photos: Maja Suslin/Ben Curtis/TT

Sweden resumes aid to 'anti-gay Uganda'

Sweden has resumed sending development aid funds to Uganda, after suspending payouts back in March due to "anti-gay legislation". READ  

RECEIVE OUR NEWSLETTER AND ALERTS
National
Stockholm Pride bars Sweden Democrats
National
Gender neutral pronoun 'hen' enters dictionary
Society
Top ten cafes in Stockholm
People-watching
Gallery
People-watching - Stockholm Pride
Photo: Henrik Trygg/Imagebank Sweden
Society
Sweden worst in EU at getting foreigners jobs
Blog updates

31 July

Calling a speedo a speedo (Blogweiser) »

"There are a lot of speedos on Europe’s beaches. Some European males are evidently more comfortable sporting small, stretchy suits on public beaches than I would be. I accept it may be nice to have swimwear that’s not long and cumbersome. A speedo is maybe also good for tanning. But strolling around town in a..." READ »

 

27 July

Approaching Stockholm (Around Sweden in a kayak) »

"I woke up in the comfort of my own little cabin on Eva and Rolf’s boat, it was 7:30am and I was feeling a bit groggy after a couple of beers with all the lovely locals the night before. The previous day had really taken its toll on my body and I was very stiff and..." READ »

 
 
 
Lifestyle
Stockholm Pride kicks off
Analysis
The top six ways the US and Sweden differ
National
Swedish youth suicides hit 25-year high
National
Politician reported for selling 'negro ball'
National
Police turn blind eye to Swedish 'slave trade'
Gallery
Stockholm Pride: Allsång på Skansen with Conchita Wurst
Skatteverket
Sponsored Article
Introducing... ID cards and permits in Stockholm
Gallery
People-watching, June 26th - 28th. Get inside Stockholm's hottest nightclubs
Gallery
Top ten Swedish taboos
Society
Seven-year-old Swede cycles to Berlin
Politics
'Gaza conflict needs help, not empty rhetoric'
Society
Swedes voted 'most beautiful' in the Nordics
Business & Money
Sweden demands EU clarity on Bitcoin tax
National
Swedish organic sales enjoy 'amazing' growth
Photo: Johan Nilsson/TT
Society
What's On in Sweden
Gallery
People-watching July 23
National
Swedish cops elect not to shoot 'angry elks'
Business & Money
New alcohol retail rules threaten micro-breweries
Gallery
People-watching Båstad
Sponsored Article
Introducing... Your finances in Stockholm
Sponsored Article
Introducing... Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

750
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se