Klingele invests in the Cuban corrugated cardboard industry through a shareholding in Spanish company Trade Packaging S.A.
In a press release published today,Klingele Group informed that it was investing in the market in Cuba through its Spanish subsidiary Klingele Embalajes. Klingele has a shareholding in the Spanish holding company Trade Packaging S.A. and will therefore operate two corrugated cardboard plants and a folding box plant in Cuba in the future.
An extensive investment plan of $20m was approved to acquire "reliable machine technology", e.g. a corrugator, processing machines, and printing technology. The aim is to double the current capacity of 40 million m² of corrugated cardboard packaging in the plants in Havanna and Santiago de Cuba.
The corrugated base paper for the plants will come from Klingele's own paper mill in Weener in Northern Germany because the paper currently used in Cuba does not meet the quality requirements for high-quality packaging, says Klingele.