Environment

Spanish group SAICA's £100m acquisition of SCA's corrugated business in the UK has been completed.

A statement to the Stockholm stock market from Swedish group SCA confirmed that the sale had gone through following approval by competition authorities.

SCA confirmed that following the deal, which was first announced in June, it will retain and continue to develop its value-added specialised packaging operations in the UK and Ireland.

In the statement, it said: "These units show favourable profitability and strengthen SCA's overall strategy of focusing on products and solutions with higher value added."

The completion of the transaction comes as SAICA awaits planning approval for its planning £250m recycled paper mill at Partington, near Manchester.

Trafford Metropolitan Borough Council is due to give a final decision on the plant on 9 October.