| SCA Increases Ownership in Chinese Tissue Company Vinda |
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Stockholm, Sweden, 20 February 2008 -- Global consumer goods and paper company SCA today increased its ownership in the Hong Kong-based tissue company Vinda from 14% to 19% of the shares.
Vinda, one of the leading brands with modern assets,is among the three largest companies within the fast growing tissue market in China.
On 29 March 2007, SCA initially acquired 20% of the shares in Vinda. This shareholding was later diluted to 14% when Vinda was listed through an IPO on the Hong Kong stock exchange in July 2007.
“The Chinese tissue market has good growth rates and the Vinda brand is one of the most well known brands in the country. By increasing our stake in the company, we secure a strategic position that gives us a stronger foothold in the very important Chinese market, which is the second largest tissue market in the world,” said Jan Johansson, SCA president and CEO.
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