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News: Paperlinx to acquire NZ business

  1. FNN News
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    06/08/12
    11:53
    Post #: 10531452
    .


    Paperlinx Limited (ASX:PPX) says it has entered into an agreement to buy New Zealand based Canterbury Packaging Limited which is a small distributor of industrial packaging consumables.



    Paperlinx will pay $2 million for the business, to be funded from local credit facilities.

     


    The paper manufacturer says the acquisition is a significant step in its diversified products strategy and will build on its Spicers business in New Zealand.



    PaperlinX reported a net loss of $60.9 million in the first half of the 2012 financial year.

    SRS Price at posting: 6.3¢ Sentiment: None Disclosure: Held
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