Cham Group completes Papieri site

According to the Cham Group, the seller of the approximately 36,000 sqm site is Chemolio Industrie Holding. The acquisition is a strategic consolidation of the land on which the Papieri site development will be realized in the next few years.

In May 2016, Chemolio had sold its shares in Pavatex Holding, which is also commercially active in Cham. However, the land remained in the possession of the Chemolio subsidiary CHH Liegenschaften and was transferred to Pavatex in building rights, Cham Group said in a statement. In the meantime, Chemolio had decided to look for a suitable successor as long-term owner of the plot and approached Cham Group. The existing contracts between CHH Liegenschaften and Pavatex will be taken over by Cham Group. (ah)