UPM to sell Loparex
to international bank
UPM has announced its intention to sell the Loparex Group, a member of UPM’s Converting Division, to an investment company belonging to ABN AMRO Capital Group. The transaction is expected to be concluded during the third quarter of 2005.
Loparex is a leading manufacturer of siliconized release materials, with production plants located in Finland, Great Britain, the Netherlands, the USA and China, as well as a joint venture in India.
According to an announcement from UPM, ABN AMRO’s intention in buying Loparex is to enhance its service, support and manufacturing capabilities with targeted investments that will better support the company’s growth and success. All Loparex units are part of the transaction.
ABN AMRO is an international bank based in the Netherlands. It ranks 11th in Europe and 20th in the world based on tier 1 capital, with more than 3,000 branches in over 60 countries and total assets of €855.7 billion.