Metsa Tissue to buy remainder of ZP Krapkowice

Finnish company Metsa Tissue plans by the end of the year to purchase all shares of hygienic paper manufacturer ZP Krapkowice from minority investors, including a 5% stake belonging to the Treasury. At present, Metsa Tissue owns 90% of ZP shares. The Finnish intend to invest some EUR 15 million in the company within the next 18 months. At the same time, ZP is undergoing restructuring, aimed at unifying the profile of its activities, which includes modernization of production and some reductions in employment - currently around 300 people work at the company - as well as affecting the structure of the group. "Of three subsidiaries, one is to be liquidated and the two remaining sold," explained ZP board member Lech Wieczorek. (Parkiet, p. 5) K.Ż.