Waraq eyeing take-overs of RCP businesses in Europe or North America
Saudi Arabian company Waraq plans to optimize its recovered paper supply. The containerboard and core board producer intends to add European or North American recovered paper businesses to its existing collection sites in Saudi Arabia.
Saudi Arabian paper producer Waraq (Arab Paper Manufacturing Co.) has set its sights on acquiring recovered paper companies in Europe or North America to safeguard its raw material supply. In an interview at the Bureau of International Recycling's (BIR) spring convention in Rome in early June, Atul Kaul, the company's pulp and paper director, told EUWID that the UK would be his personal preference. However, Waraq was fundamentally open to possible take-overs throughout Europe and North America.
The group was also flexible with regard to the size of the companies. It is imaginable that Waraq might buy several smaller companies instead of a major operator, Mr Kaul added.
Waraq runs two paper machines in Damman with a combined annual production capacity of 200,000 tonnes of recycled corrugated case material and recycled coreboard. A third paper machine is due to start operating in the second quarter of 2013, Mr Kaul stated. This would bring the group's total annual capacity to approximately 500,000 tonnes.
The complex receives recovered paper from Waraq's recovered paper division, which has several collection sites and buys in material from other companies. This division provides approximately 250,000 tonnes each year.
⇒ Find this article in its entirety and any associated background information in EUWID Pulp and Paper no. 24.
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