BauschLinnemann North America Buy The Remaining Shares in BauschLinnemann South Carolina

BauschLinnemann North America has bought the remaining shares in BauschLinnemann South Carolina in two instalments. The firm is part of Surteco SE’s Paper division. BauschLinnemann South Carolina was created at the start of November 2010 when the firm acquired assets belonging to the US film producer Coastal Paper . BauschLinnemann North America held 70 % of the shares in the new company, with the other 30 % in the hands of Coastal Paper’s former owners and BauschLinnemann North America’s management team. BauschLinnemann North America bought another 10 % of the shares in BauschLinnemann South Carolina on 30 April 2012 from Coastal Paper’s former owners. The last 20 %, split between BauschLinnemann North America’s CEO Mike Philipps and CFO Bernhard Düpmeier, were transferred retroactively to 1 January during the first quarter of 2013. BauschLinnemann South Carolina was also merged into BauschLinnemann North America retroactively to 1 January.