Asaleo Care waves goodbye to its tissue business

Sid Takla, CEO of Asaleo Care, talks about the sale of the company's tissue business to Solaris Paper and what lies ahead in 2019.

Alan Kohler here with today’s CEO is Sid Takla, the CEO of Asaelo Care.  Earlier this month their share priced popped up quite a lot from about 62 cents to above 90 cents following the sale of its tissue business which is basically the Sorbent tissues, they sold that to Solaris Paper for $180 million.  It didn’t come anywhere near recovering the drop in their share price from $1.30 down to 70 cents, so their share price halved in July following a trading update which revealed terrible problems with that tissue business.  Now they’ve sold it to a global business for quite a decent price, $180 million for a business that’s losing money, that’s not bad.

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