Mayr-Melnhof Karton sells paper specialist TANN Group

The TANN Group prints and refines purchased fine paper into tipping paper (cigarette mouthpiece paper). As this business is located outside the core areas of cartonboard and consumer goods packaging, MM has decided to sell it, according to a statement. The TANN Group recently achieved annual sales of around €220 million and comprises seven production sites in Austria, China, the Philippines, Turkey, Canada and Germany with around 730 employees worldwide. Evergreen Hill Enterprise, Pte. Ltd, part of a diversified, private Indonesian group of companies, will take over the workforce.

“The sale offers MM the opportunity to further strengthen and expand its position in the core business of consumer goods packaging. We are pleased that the TANN Group has a new strategic owner in Evergreen Hill Enterprise, Pte. Ltd. who intends to invest in its future. We would especially like to thank the entire staff for their great work over the past years at MM,” commented Peter Oswald, CEO of MM.

MM acquired the Tann Group via Mayr-Melnhof Packaging in 2018.