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News

VPK Packaging to acquire Corenso’s
businesses in Europe and China

21 Feb 2019 − 

Corenso is parting with a big part of its activities. A total of two coreboard mills and 13 cores plants are to be sold to VPK Packaging.

VPK Packaging is significantly strengthening its position on the cores market. The company announced it had signed an agreement with NPAC International to acquire the European and Chinese business activities of integrated cores producer Corenso. The takeover is scheduled to be completed in April 2019, says NPAC. Corenso's activities in North America are not part of the transaction.

VPK will almost double its capacities for cores thanks to this acquisition. The takeover will include Corenso's two coreboard mills in Finland and France as well as 13 conversion plants, of which 10 are located in Europe and 3 in China. According to VPK, the businesses generate annual sales of €170m and employ a total of 850 people.

VPK produces coreboard and cores through its Corex division. Corex operates 14 sites which produce cores for the paper, foil, textiles and metal industries as well as edge protectors with a capacity of 150,000 tpy. Composite cans for food or cosmetics packaging, amongst others, are also part of the division's portfolio.

Only recently, VPK had announced an investment in Poland, and also in the corrugated packaging sector, the company is pursuing its growth path.

Want to find out more on the takeover and on VPK's projects? Find the full article in EUWID Pulp and Paper issue no 9/2019, which will be available to our e-paper and print subscribers as of 27 February.

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