Acquisition Bolsters K-C's Presence in Rapidly Growing Region
DALLAS, Oct. 29 /CNW/ -- Kimberly-Clark Corporation (NYSE: KMB) today
announced it has reached an agreement to purchase from Compania Colombiana de
Inversiones S.A. (Colinversiones) and other related parties the remaining
approximately 31 percent shares of Kimberly-Clark's Andean region subsidiary,
Colombiana Kimberly Colpapel S.A. (CKC). The transaction, which is expected to
close in late January 2009, will bring Kimberly-Clark's ownership of CKC to
100 percent. Kimberly-Clark expects this investment will be modestly accretive
to 2009 bottom-line results.
"Our increased ownership in this successful affiliate bolsters
Kimberly-Clark's presence in the region and enhances our growth potential in
the rapidly developing markets of Bolivia, Colombia, Ecuador, Peru and
Venezuela," said Bob Black, Group President of Kimberly-Clark's developing and
emerging markets businesses. "Our Andean region joint venture has been very
successful for nearly four decades and we have enjoyed an excellent working
relationship with Colinversiones. This transaction gives us greater
flexibility in how we execute our growth strategies in the region and should
help generate even better returns for our shareholders."
Colombiana Kimberly Colpapel is a leading manufacturer and marketer of
consumer tissue and personal care products and also sells K-C professional
products. Included among the leading brands the company markets are: Huggies,
Kleenex, Scott, Kotex, Depend, Duramax and Kimberly-Clark.
The company is headquartered in Bogota, Colombia, operates nine
manufacturing facilities and employs more than 6,400 full-time employees and
contracted personnel across the region.
Kimberly-Clark and its well-known global brands are an indispensable part
of life for people in more than 150 countries. Every day, 1.3 billion people
-- nearly a quarter of the world's population -- trust K-C brands and the
solutions they provide to enhance their health, hygiene and well-being. With
brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend,
Kimberly-Clark holds No. 1 or No. 2 share positions in more than 80 countries.
To keep up with the latest K-C news and to learn more about the company's
136-year history of innovation, visit http://www.kimberly-clark.com.
For further information:
For further information: Media, Dave Dickson, +1-972-281-1481,
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firstname.lastname@example.org, both of Kimberly-Clark Corporation Web Site: