Gascogne Is Planning to Part with Its Loss-Making Laminates Division

The French wood and paper group Gascogne is planning to part with its loss-making Laminates division.According to information from the company,preparations have already begun for selling the division,which handles business in coated paper and other coated materials.Gascogne says 12 to 15 European companies have already expressed their interest in a takeover.The due-diligence process is then to begin in April.According to Frdric Doulcet,chairman of the board and CEO of Gascogne,the sale is to be concluded by the end of the year at the latest.The planned sale concerns two plants in France and one in Germany.According to Doulcet,the company is striving to sell the three plants as a package but a sale of the facilities individually is said to be possible as well as long as takeover solutions are found for the remaining plants at the same time.The Swiss plant in Martigny,which is also part of the same division and trades under the name of Gascogne Laminates Switzerland,is being sold separately.