VPK Packaging and Klingele to invest in growth of VPK's Nordic subsidiary Peterson
Klingele Papierwerke will participate with 26% in an investment plan aimed at strengthening Peterson's position in the market.
Belgium's VPK Packaging has launched an investment plan for the expansion of its Nordic business unit Peterson. Together with Germany's Klingele Papierwerke, who now participates with a 26% shareholding in Peterson, VPK will invest in quality certification, product innovation and increase of productivity of the company.
Peterson is a corrugated products company with annual sales of €160m and six sites across Denmark, Norway and Sweden. Peterson's total production capacity amounts to 350 million m². VPK Packaging had acquired Peterson in August last year from the Norwegian investment company Pemco.
"With support from two dynamic and experienced packaging manufacturers, Peterson aims to further capitalise on the potential of the Scandinavian market to strengthen its market position," VPK and Klingele explained.
VPK and Kingele are already cooperating on different projects on the corrugated case material and packaging market in Europe. Ten years ago, the two companies had established the European packaging alliance Blue Box Partners, together with Italy's Cart-One and Spains's Hinojosa Packaging. In 2013, VPK Packaging and Klingele Papierwerke, the two companies formed a French joint venture company Blue Paper and converted the former UPM magazine paper mill in Strasbourg to recycled containerboard production.
Find the entire article and any associated background information in EUWID Pulp and Paper issue 16/2017.
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