SCA Group to list hygiene products subsidiary
The board of directors of SCA will put up a proposal to decide on the distribution of all shares in the wholly owned subsidiary SCA Hygiene AB, to shareholders of SCA at its AGM on April 5, 2017. This effectively means a split of the SCA Group into two listed companies; one for the hygiene business and one for the forest products business.
In addition, the board of the Swedish headquartered company, proposed cash dividend of SEK 6.00 per share to its shareholders.
SCA was founded in 1929 as a forest products company and today is also a leading hygiene products supplier, with the hygiene business accounting for around 86 per cent of SCA Group 2016 net sales and the rest by the forest products business. (AR)
Fibre2Fashion News Desk – India