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December 30, 2014
Skanem AS sells Riflex Film AB to KAP AG

Skanem has signed an agreement with the German industrial group KAP AG for the sale of all shares in Riflex Film AB. The transfer takes effect from 30 December 2014.

Skanem has owned Riflex Film since 2002; and wants to focus its resources on further developing the label business

Skanem with its 1,200 employees and a turnover of 170 million EUR,  currently possess 12 label factories in Europe and Asia, and primarily supply labels to the food, cosmetic, household and beverage industry. Skanem has a strong position in Scandinavia, UK, and Central Europe, and has recently grown rapidly in South East Asia, India and East Africa.

KAP AG is a major German industrial group with a turnover of approximately 400 million EUR and 3,000 employees. AG want to maintain operations in Ronneby, and together with their existing operations in Elbtal Plastics will exploit synergies between the two factories and create a strong and competitive business.

CEO Skanem Ole Rugland, says: "I'm sure business in Ronneby will be enhanced through the new owner, and is therefore pleased to convey our business to a strategic owner who will continue to invest in this area."

Furthermore Ole Rugland expresses: "I would like to thank you all for the good cooperation we have had with Riflex Film through the board, management, union and other employees during the 13 years we have been owners, and wish you continued success.»