SCA Forest Products and Mondi Group have sold their shareholdings in Aylesford Newsprint to US private equity firm The Martling Holdings.
Aylesford Newsprint was formed in 1993 as a joint venture between SCA Forest Products and Mondi Group and produces 400,000 tonnes of newsprint per annum from 100 per cent recovered paper through its PM13 and PM14 machines.
The Martland Holdings is an investment holding company that specialises in acquiring non-core divisions of large corporations and private companies worldwide.
Aylesford Newsprint acting managing director Ian Broxup said: “The transaction opens up new opportunities to reinforce the company’s position as a UK newsprint producer. We are excited about building up the new relationship with Martland Holdings.”
The Martland Holdings executive director Landry Kouakou said: “Aylesford’s high-quality asset base, its unique industrial know-how combined with a strong balance sheet with no financial debt and an improved operating structure will represent key assets for the future.
“We are long-term investors with the commitment to build lifetime relationships with the company’s customers in Europe and overseas, enhance operation excellence while remaining nimble and flexible in serving our clients. We look forward to working with the management team and Aylesford’s employees.”