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VPK Packaging closes takeover of Corenso businesses

08 May 2019 − 

VPK Packaging has significantly expanded its Corex division and strengthened its position on the cores market. Through the acquisition of Corenso's businesses in Europe and China, the company almost doubles its capacities.

Belgian company VPK Packaging has completed the acquisition of the European and Chinese business activities of integrated cores producer Corenso. Corenso's activities in North America are not part of the transaction.

With the takeover, VPK is almost doubling its capacities for cores. The two Corenso businesses operate two coreboard mills in Finland and France as well as 13 conversion plants, of which 10 are located in Europe and 3 in China. Corex, VPK's division for cores and coreboard, operated 14 sites with a capacity of 150,000 tpy up until now. With the acquisition, the division's capacities have reportedly risen to 300,000 tpy of coreboard and 285,000 tpy of cores. The move also allows VPK to enter new markets, namely the cores markets in Finland, Spain and China.

With the transaction, Corenso is parting with a big part of its activities. Only one coreboard mill and two plants for the production of cores in the USA will remain with the company.

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