Prinzhorn Holding of Austria is to acquire Papierfabrik Fritz Peters in Germany and its recycled corrugated case material plant in Gelsenkirchen for an undisclosed sum.
Prinzhorn announced it was planning to make substantial investments to enhance the Peters plant’s efficiency and capacity. Currently the mill is producing up to 205.000 tpy of white and brown testliner as well as gypsum board paper.
Cord Prinzhorn, CEO of Prinzhorn Holding, said that he was expecting to see many synergies with the other German production plants within the Prinzhorn Group, which include two mills in Spremberg and Trostberg. The Peters group with its nine companies is producing corrugated packaging and displays and is part of the Eurobox alliance.