RDM GROUP RECEIVES AN IRREVOCABLE PURCHASE OFFER FOR THE SALE OF R.D.M. LA ROCHETTE

16-02-2021

The Board of Directors of RDM Group favorably assessed an irrevocable offer received by its subsidiary RDM Blendecques S.A.S. for the purchase of its 100% interest in R.D.M. La Rochette S.A.S.

RDM Blendecques S.A.S. thus today signed a put option agreement to sell its fully owned French company R.D.M. La Rochette.

 

Michele Bianchi, CEO of RDM Group, commented: “By accepting the irrevocable offer for the purchase of La Rochette, RDM Group has taken the opportunity to exit from the FBB business, the segment of cartonboard for folding boxboard based on virgin fibers. Compared to when it was acquired by RDM in 2016, the profitability of La Rochette plant has increased, also thanks to the operating efficiencies achieved in these years and our team’s management effort. However, reaching an operating profitability in line with the average rate of the other assets in our portfolio would require further significant capital expenditures.”

 

“By exiting from this segment, RDM Group will effectively unlock resources and managerial energies to increase its focus on the current growth and consolidation path,” CEO Michele Bianchi continued, “Through the integration of the most recent acquisitions Barcelona Cartonboard and Paprinsa, the closing of which is expected to take place in the coming weeks, we are working to strengthen our leadership in the WLC market.”

 

More information at this link.

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