(07/09/2012 / sha)

Cellynne Paper: Sale to Italian Sofidel group

Sofidel and Cellynne Corporation have announced that they have reached an agreement for the sale of Cellynne Paper to the Italian group.

The agreement covers the acquisition of the shares of Cellynne Holdings Inc with the U.S. manufacturing facilities in Haines City (Florida), Green Bay (Wisconsin) and Henderson (Nevada).

The agreement is now going through the process of antitrust approval.

Once the acquisition is finalized, Sofidel, the second largest producer in Europe of tissue (paper for hygiene and domestic use), will make its entry into the U.S. market.