Arjowiggins, a wholly owned subsidiary of Sequana Capital, has made a move for the FSC-certified paper plant to extend its production of very high-quality recycled pulp.
The company expects demand for the new coated paper, which has already begun production at its two de-inking plants in France and Denmark, to reach 1.5m tons by 2010.
It claimed the new stock has the same whiteness, rigidity, brilliance and opacity of high-end coated paper, but features a "substantial" proportion of recycled pulp.
Sequana chief executive Pascal Lebard said the acquisition, expected to complete in early 2008, would help to improve Arjowiggins' profitability in the long term.
Arjowiggins chief executive Charles Dehelly added: "This plan backs up our strategy of repositioning ourselves in value-added markets experiencing strong growth, such as those for environmentally friendly products."
He said that through the acquisition, the company could "step up the pace" in expanding its FSC-certified product range.
This summer, Arjowiggins bought recycled graphic paper company Dalum Papir in a deal worth £43.8m.
Arjo makes play for Greenfield SAS to boost recycled paper portfolio
Arjowiggins has aimed to grow its environmentally friendly paper portfolio by entering into negotiations to buy the 140,000-tonne-capacity Greenfield SAS de-inking mill from Canadian parent company Cascades.
