<B>K-C Buying Out Taiwanese Company</B>

Kimberly-Clark Corp. purchased the 33.3 percent interest in Taiwan Scott Paper Corp. held by Goldsun Development & Construction Co. Ltd. The transaction is valued at about $40 million and is expected to close by the end of this year.

This is K-C’s second major investment in Taiwan in the last six months. In June, the company acquired the majority of shares in S-K Corp., K-C's former licensee in Taiwan.

Paul Geisler, Kimberly-Clark Asia-Pacific Group president, said: "The transaction will provide Kimberly-Clark with 100 percent ownership of Taiwan Scott as we move towards merging it with S-K Corporation in mid-2001.”

An application to merge S-K Corporation and Taiwan Scott Paper Corporation was approved in October by the Taiwan Fair Trade Commission. Sales of the combined companies in Taiwan are expected to exceed $250 million next year.

Get curated news on YOUR industry.

Enter your email to receive our newsletters.

Loading...
December 2000
Explore the December 2000 Issue

Check out more from this issue and find your next story to read.