• Sweden's news in English
 

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

AFP/The Local · 10 Nov 2011, 14:02

Published: 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)

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
Julian Assange
Sweden and Ecuador set to launch Assange talks
WikiLeaks founder Julian Assange. Photo: AP Photo/Kirsty Wigglesworth

Sweden and Ecuador set to launch Assange talks

12 hours ago

Sweden is seeking to reach a deal to pave the way for prosecutors to question Julian Assange at the Ecuadorian embassy in London where the Wikileaks founder has been holed up for over three years as he fights an extradition to Sweden over rape allegations.

Stockholm bin men rescue doomed kitten
'It trembled like a leaf'. Photo: Bekir Mercil/Private

Stockholm bin men rescue doomed kitten

10 hours ago

Stockholm waste collector Bekir Mercil and his two colleagues were on Friday hailed heroes of the day after they saved a terrified kitten who had fallen into a garbage truck, stuck in tonnes of food waste headed for the incinerator.

Trio in court over attack on Swedish serial rapist
Umeå held a demonstration against sexual violence toward women when Lindgren was released in July. Photo: John Gunseum/TT

Trio in court over attack on Swedish serial rapist

16 hours ago

UPDATED: Three men have been remanded in custody over a weekend golf club attack on one of Sweden's most notorious serial rapists who was released from prison earlier this month.

Swedes debate capital's first Airbnb rent ‘ban’
The apartment is located in Stockholm's trendy Södermalm neighbourhood. Photo: Christine Olsson/TT

Swedes debate capital's first Airbnb rent ‘ban’

1 day ago

UPDATED: A landmark ruling banning a woman in Stockholm from renting out her apartment via the home-sharing website Airbnb after a rent tribunal likened the letting with running a "hotel business" on the premises has sparked debate in Sweden.

Text messages to warn Swedes of terror attacks
Swedish Interior Minister Anders Ygeman. Photo: Bertil Ericson/TT

Text messages to warn Swedes of terror attacks

17 hours ago

The Swedish government wants to step up its fight against terror with a new strategy that includes warning civilians to stay away from certain geographical areas via text message.

Champions League
Zlatan breaks internet in Malmö rush for tickets
Former Malmö player Zlatan Ibrahimovic. Photo: Audun Braastad/NTB scanpix/TT

Zlatan breaks internet in Malmö rush for tickets

19 hours ago

The excitement in Malmö knew no limits after its football champions were drawn in the same Champions League group as Sweden's star striker Zlatan Ibrahimovic's Paris Saint-Germain.

Migrant crisis
Were human smugglers on board boat of death?
The Swedish coastguard ship reaching the port of Palermo. Photo: Kustbevakningen

Were human smugglers on board boat of death?

20 hours ago

Swedish officials suspect that people involved in human smuggling were on board a migrant boat rescued by the coastguard's ship off the Libyan coast in a catastrophe that claimed 52 lives.

Abba piano to raise money, money, money
Actors perform on the Abba piano at Sotheby's Auction House. Photo: AP Photo/Frank Augstein

Abba piano to raise money, money, money

21 hours ago

The piano that featured on many of Swedish pop legends Abba's greatest hits is going under the hammer next month in London, said auctioneers Sotheby's.

The Local Recipes
How to make Swedish blueberry compote
It's the perfect time to pick your own blueberries in Sweden. Photo: TT

How to make Swedish blueberry compote

21 hours ago

August is blueberry season in Sweden. Whether you pick your own or buy in bulk from the supermarket, don't miss John Duxbury's favourite recipe for creating this delicious compote, perfect with toast, yoghurt, pancakes or waffles.

Smuggling Swede busted using fake leg casts
The man had made sure he could move his knees. Photo: Erhan Güner/TT

Smuggling Swede busted using fake leg casts

1 day ago

A 49-year-old Swede sealed his own fate after trying to smuggle drugs in fake leg casts – and then getting caught when he tried to run while wearing them. A Dubai court has now sentenced him to ten years in jail.

RECEIVE OUR NEWSLETTER AND ALERTS

National
This Swedish teen was told she was 'too big' to be a model
Lifestyle
Six reasons to stay outdoors this week
Gallery
People-watching: August 26th
Sponsored Article
Nine places where Stockholm needs more English
National
Rescued baby lemur gets new Stockholm home
Blog updates

28 August

Editor’s blog, August 28th (The Local Sweden) »

"Hello readers, It was all glitz and glamour in Sweden this week as Stockholm’s Fashion Week got..." READ »

 

18 August

Preteritum eller presens perfekt? (The Swedish Teacher) »

"Hello everyone, It’s grammar time ! I got an interesting question about the past tense vs present..." READ »

 
 
 
National
Stockholm Fashion Week turns island into Mars
Sponsored Article
'It gives you the guts to believe in yourself'
Gallery
Property of the week: Stora Essingen, Stockholm
National
Swedish crayfish thieves caught red handed by officers
National
Veil soon to be lifted on new Millennium sequel novel
Gallery
People-watching: August 21st - 22nd
Cecilia Larsson Lantz/imagebank.sweden.se
Presented by Stockholm Academic Forum
International students welcomed to Stockholm
National
The Bridge: What does the third season have in store?
National
Lucky escape for Swedes after 'dead' bear launches attack
National
Syrian asylum seeker comic: 'We don't prefer Sweden any more'
National
Are anti-immigration nationalists really now Sweden's biggest party?
Lifestyle
Baby joy for Swedish crime queen and her wrestler boyfriend
National
Soldier accused of faking first Isis attack in Sweden
National
Fire alert as Sweden sizzles in summer heatwave
Gallery
People-watching: August 19th
National
Meet the Swede who is crazy for Norway’s mass killer
National
Swede's review of night in drunk tank goes viral
National
VIDEO: Swedish teen melts hearts with this incredible Idol audition
Society
What's a Swedish crayfish party?
National
UN: Sweden can't be left to shoulder migrant crisis alone
Gallery
Property of the week: Skogås, Huddinge
National
Men outstrip women for first time
Society
IN PICTURES: Wooden town resembles 'war zone' after huge fire
Gallery
People-watching: August 14th-16th
Sport
Swedish referee shuts viral Facebook page explaining his decisions
Business & Money
A studio in Stockholm or a castle in the countryside?
National
How did twelve skeletons end up beneath a Swedish castle?
Pharmacy to launch plasters for darker skin in anti racism drive
Gallery
People-watching: August 12th
National
TIMELINE: Everything you need to know about the Julian Assange case
National
Millennium sequel author labelled 'grave robber'
National
Two metre long python stops traffic in Malmö
National
IN PICTURES: Shoppers pay tribute to Ikea stabbing victims
Technology
Danish 'monster' pulled out of Swedish waters
National
Bizarre baby baptism for hockey fan
Gallery
Property of the week: Löderup, Ystad
National
Sunshine brightens up Sweden
Gallery
People-watching: August 7th-9th
National
Shocking video sheds light on Swedish 'anti-gay discrimination'
Sponsored Article
Getting pregnant the Swedish way
Lifestyle
Five great music festivals in Sweden
Sponsored Article
Outsourcing drives Apreel's Europe growth
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

3,217
jobs available
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:
psdmedia.se