Following official clearance by the German antitrust authorities, the acquisition of Buchmann Karton by Weig Group has been completed.
The takeover of German recycled cartonboard producer Buchmann Karton by its fellow German rival Weig Karton has officially been completed. The deal was finalised with retroactive effect from 1 January 2023. The companies did not disclose the value of the transaction.
Buchmann Karton employs about 330 people and operates one board machine with a capacity to produce up to about 260,000 tpy of white-lined chipboard, including GD board, GT board and liner grades. Weig Karton produces white-lined chipboard and chipboard at the Mayen plant with a total capacity of 630,000 tpy.
Weig plans to further develop the two mills of Weig Karton in Mayen and Buchmann Karton in Annweiler and to expand their capabilities in the medium to long term.
Moritz J. Weig and Xaver Weig have been appointed as new managing directors of Buchmann Karton, according to the company. The previous managing partner Thomas Schätzle has left Buchmann.