SCA is on a 1.6bn search for European packaging and tissue companies and will not be swayed by the sliding economy.


The Swedish group is targeting packagers with annual turnovers of between 30m and 125m, but will not reveal names.


"We need to be active in the consolidation of the paper industry in Europe," said chief executive Sverker Martin-Lof. "There are many takeover targets in that market."


Peter Nyquist, vice president of investor relations and communication, said: "Our main concern is not to be the biggest in the market, but to add quality earnings.


"Buys in packaging and hygiene products, such as tissues, must integrate easily into SCA and enhance long-term value. It is not about size."


The firm would not be put off by jitters in the economy, he said: "Economies will always have ups and downs and acquisitions must be profitable in the long term."