The tissue segment ought to be flushed away by Novus

Business

The tissue segment ought to be flushed away by Novus

Recent results are not to be sneezed at, but focus should be on core printing and packaging divisions

Marc Hasenfuss

Not many shareholders in Novus Holdings (https://www.sharenet.co.za/v3/quickshare.php?scode=NVS) will shed tears when the printing and packaging group disposes of its tissue business.

While the need to diversify away from the strains of the printing industry was understandable, the acquisition in 2014 of a tissue plant in KwaZulu-Natal was probably not the best way to mop up profits.

The new management team at Novus – headed by Neil Birch (former CEO of Bidvest Paperplus) – has, to date, not said much about this prickly legacy issue...

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