Cham Paper Group Holding AG reported earnings results for the first half ended June 30, 2012. For the period, the company achieved a net turnover of CHF 155 million, down 9.4% on the previous year. This decline is in line with the expectations that formed part of the group transformation that got underway at the end of 2011. The fact that the group has now achieved an operating income of CHF 2.7 million and a net profit of CHF 0.2 million means that the comprehensive reorganisation of the group can be achieved above the break-even point, in line with objectives. Net debt was further reduced in the period to CHF 21.2 million.

As of September 1, 2012, Marcello Di Giacomo will be taking over the leadership of the Carmignano site and will become a member of the Cham Paper Group's board of directors. Mr. Di Giacomo joins from Kimberly-Clark, where he managed a site in Italy. He has a profound knowledge of the paper industry and a track record in corporate management acquired in his earlier activity in various European countries. Over the next 18 months, the Carmignano site will become the most important production facility in the Cham Paper Group and the backbone of an efficiency-oriented production and logistics platform in the eurozone. CEO Peter Studer, who has led the company temporarily since December 1, 2011, will also take on the additional role of group Sales Director from September 1, 2012. He will replace Christine Arnet, who has been responsible for Sales for the last 15 months and will be pursuing a new direction outside of the company. The Sales division is to be reorganised in order to reflect the differing orientations of the sites in Italy and Switzerland, as well as the innovation centre in Cham.