According to a report, Ssangyong Paper Co.
announced yesterday that it is exploring a possible divestiture of its Kraft
paper business. “Although our Kraft paper business is a very successful,
profitable business, it is not a strategic fit for us," said Al Rajwani,
general manager of Ssangyong Paper. "We are first and foremost, a consumer
goods company.
"Ssangong
Paper is in the process of soliciting bids. If an acceptable offer is not
received, they will retain the business.
P&G entered
the paper business with its acquisition of Ssangyong Paper in three years ago..
Ssangyong Paper is currently the market leader in Korea and will retain the
tissue paper division as a core business.
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