Boulogne-Billancourt, 30 January 2018
Arjowiggins has entered into exclusive negotiations with investment group Blue Motion Technologies Holding for the disposal of Arjowiggins Security
Arjowiggins announces the planned sale of its Arjowiggins Security subsidiary producing primarily banknote paper at its Crèvecœur mill in France, to Blue Motion Technologies Holding, advised by Parter Capital Group. This transaction would finalise its exit from the banknote paper production business.
This project is subject to an information/consultation procedure with the relevant works councils.
Closing of the transaction should take place before the end of the first quarter 2018 after a recapitalisation of Arjowiggins Security by Arjowiggins.
In February 2017, Sequana announced a strategic review of the Security Division that was confronted with a continuous deterioration of the banknote paper market, with structural volume reductions and 35% overcapacities in excess of the overall market demand leading to growing competition and heavy pressure on margins. Further to the sale of Arjowiggins Security BV and its Apeldoorn mill in the Netherlands in July 2017, the planned disposal of Arjowiggins Security would enable the Group to fully divest from the banknote paper business that has suffered substantial losses for more than two years.
Sequana (Euronext Paris: SEQ) is a major player in the paper industry, boasting leading positions in each of its two businesses:
Antalis: European leader in the distribution of paper and packaging products, with around 5,600 employees based in 43 countries.
Arjowiggins: World leader in recycled creative and specialty papers, with approximately 2,800 employees.
Sequana reported sales of €3 billion in 2016 and employed some 8,500 people worldwide.