Saica plans to spend $800m in the next five years.
Spain's paper and packaging group Saica is set for further growth on the US market. The company announced it would invest $800m over the next five years to expand its presence. The money would be spend on "strategic acquisitions or new plant construction", according to the company.
Saica is currently building its first production site in the US: the corrugated plant in Hamilton, Ohio, is scheduled to open in early 2022. Saica Pack US said it would initially create 64 jobs new jobs.
“The journey to the US market has not been an easy road, but we are convinced that we can provide products that will differentiate us in a crowded market,” said Saica Group President Ramón Alejandro. “We believe our extensive knowledge of low-weight recycled paper production along with the increased demand for cartons makes this a great time to come to the US. market,” he said.
Specific growth plans under the $800m investment were still being determined. Saica’s investment could bring approximately 500 jobs to the market, the company announced.
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