Huhtamaki Sells Release Paper Business

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Huhtamaki has sold its release paper business to German release liner manufacturer B. Laufenberg. The division was part of Huhtamaki’s Films Global Business and manufactures siliconised glassine and clay coated liners generating annual revenues of Euro 30 million. Huhtamaki will, however, continue to manufacture release films.
The group has gone in for considerable restructuring and divestment of loss-making units recently in the wake of a pre-tax Euro 74.5 million loss during 2008. as against a profit of Euro 27 million during 2007.
After an extensive strategic review last year, Huhtamaki has decided to focus on smooth and rough moulded fibre products, release films, flexible packaging, foodservice paper cups and other products based on paper forming technology.