Reno de Medici sells Spanish subsidiary RDM Iberica

摘要

Italian recycled cartonboard manufacturer Reno de Medici (RDM) has announced the divestment of its Spanish subsidiary Reno de Medici Iberica which includes the board plant Almazan. The company said it sold the total share capital to Spanish company Arpafino. The transaction price was put at €800,000. Reno de Medici had already decided in February 2015 that Reno de Medici Iberica was no longer of strategic importance for the group and consequently announced the sale of the Almazan board plant in northern Spain. A reassessment of the group's asset portfolio had demonstrated the need to focus efforts and resources on production facilities that are more efficient and present higher growth potential, the company said at that time.