• 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)

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
Ericsson to axe modems and cut jobs
Ericsson CEO Hans Vestberg, pictured here presenting the comapny's quarterly report in July. Photo: Annika af Klercker/TT

Ericsson to axe modems and cut jobs

Swedish telecom giant Ericsson has confirmed it will cut jobs in Sweden and abroad after the company announced on Thursday morning it would stop developing modems. READ  

Elections 2014
Lööf laughs off Löfven's 'comical' advances
Annie Lööf speaks to the press after her meeting with the parliamentry speaker on Wednesday. Photo: Fredrik Persson/TT

Lööf laughs off Löfven's 'comical' advances

UPDATED: Centre Party leader Annie Lööf reiterated on Thursday morning her reluctance to cooperate across bloc lines with Stefan Löfven, as the Social Democrat leader renews his attempts to form a new government. READ  

Elections 2014
Sweden Democrats want prized speaker job
Sweden Democrat party secretary Björn Söder celebrates Sunday's election result. Photo: Anders Wiklund/TT

Sweden Democrats want prized speaker job

UPDATED: As Sweden’s third largest party, the Sweden Democrats "assume" they will be given one of a handful of prestigious parliamentary speaker jobs, party secretary Björn Söder tells The Local. READ  

National
Teens in intensive care after school 'initiation'
Photo: Peder Skrivares school

Teens in intensive care after school 'initiation'

School inspectors are investigating after an initiation ceremony at a high school in Varberg in south west Sweden left four girls in hospital. READ  

National
Pirate Bay Swede 'mistreated' in jail
Peter Sunde. Photo: TT

Pirate Bay Swede 'mistreated' in jail

The brother of Pirate Bay co-founder Peter Sunde has questioned the conditions of his brother's Swedish jail, slamming both the institution and the guards. READ  

Elections 2014
Fresh election fears in divided Sweden
Sweden Democrat leader Jimmie Åkesson may not support a Social Democrat budget. Photo: TT

Fresh election fears in divided Sweden

UPDATED: The leaders of Sweden's main political parties have been called to parliament as speculation grows that the Sweden Democrats could hold the key to new elections. READ  

Presented by Stockholm Business Region
Introducing... the Stockholm collection
Photo: Imagebank Sweden

Introducing... the Stockholm collection

Moving to Stockholm, or just dreaming about it? Either way, this is your ultimate guide: for housing, finances, insurance, business, and so much more. READ  

In Pictures: The Local's Property of the Week
Photo: Fastighetsbyrån

In Pictures: The Local's Property of the Week

Time for some luxury this week - we're heading to a sprawling Eskilstuna property with a location and view to die for. READ  

National
Row over viral 'Nazi receipt' in Swedish shop
A cashier in a Coop supermarket: Photo: TT

Row over viral 'Nazi receipt' in Swedish shop

A photo of a till receipt with the Nazi slogan "Sieg Heil" printed on it has gone viral in Sweden, with supermarket chain Coop launching an internal investigation. READ  

Society
Sweden tops 'financial well-being' rankings
Sweden's family-friendly policies contribute to well-being. Photo: TT

Sweden tops 'financial well-being' rankings

Swedes have fewer money concerns than people from any other European country, according to the latest major report on global well-being. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
Property of the week - Eskilstuna
Sponsored Article
How to start a business in Stockholm
Society
How I became a surf blogger when I moved to Sweden
Gallery
People-watching: September 13th
Society
Why is Stockholm's Södermalm so cool?
Blog updates

17 September

Deep election analysis (Blogweiser) »

"You think you’re bad? Well I’m American. http://www.youtube.com/watch?v=NFbomLID0vU Deep deep analysis on Swedish election results. Vlog post: https://t.co/tjQgfa5Yie #svpol #val2014 #politics pic.twitter.com/oEK5ADFT8L — Joel Sherwood (@joeldsherwood) September 17, 2014 " READ »

 

15 September

Liten, litet, små & lilla (The Swedish Teacher) »

"Hej igen! Have you ever been confused about when to use “liten”, “litet”, “små” and “lilla”? Today I’m going to sort out how use the adjective “liten” (small) and the different forms of it. Liten or litet? “Liten” is the form we will use when referring to a noun with the gender “en”. For example: Min pappa har en..." READ »

 
 
 
Gallery
People-watching: September 11th
Gallery
People-watching: September 13th
Politics
Five possible election outcomes
Politics
Sweden elections: How do they work?
Politics
Sweden elections: Who's who?
Lifestyle
What's on in Sweden
Gallery
Property of the week - Hornstull, Stockholm
Analysis
Five differences between the UK and Sweden
Welshman Jonny Luck is now a chef in Sweden
Society
How I opened my own restaurant in Sweden's Malmö
Sponsored Article
Stockholm tech fest: relive the magic
Gallery
People-watching September 8th
Photo: TT
Politics
Feminists fight for first seats
Politics
Immigration cut push from Sweden Democrats
Sheryl Sandberg says women have "low expectations"
Tech
Facebook exec talks women's limits in Swedish business
Politics
Left Party calls for justice and equality
Politics
Green Party wants 'better world' for kids
Lifestyle
The five best Swedish songs of the month
Sponsored Article
Introducing… Insurance in Stockholm
National
Huge clear up underway after Skåne floods
Politics
Sweden's Alliance reveals full manifesto
Tech
Sweden's highest peak to lose title next year
Sponsored Article
Graduates: Insure your income in Sweden with AEA
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

862
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
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
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