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By Andra Beltz
DS Smith plc, an international supplier of corrugated cardboard packaging and plastics, announced the completion of the acquisition of EcoPack and EcoPaper companies in Romania through a transaction worth 208 million euros.
Together, the two companies are one of the largest packaging and paper producing groups in Romania.
The acquisition significantly increases DS Smith's ability to serve its customers in a growing region, as well as to support its existing operations in Eastern Europe.
"We look forward to working with our new colleagues in the paper mill and packaging unit in the center of Romania and to continue to strengthen our operations in this market with major growths. We continue to grow strong throughout Eastern Europe and this acquisition will help us meet the growing demand in the region, "said Miles Roberts, Group Chief Executive of DS Smith plc.
DS Smith plc will keep the current 400 employees and may increase the workforce as demand increases. EcoPack and EcoPaper bring both high quality packaging products and the ability to produce lightweight paper, both strongly supporting the offer of DS Smith products.
The Romanian company has developed significantly over many years and is well positioned on the local consumer goods market. The customer base and the EcoPack and EcoPaper products align well with DS Smith plc, offering considerable potential for future growth and significant cost synergies.
DS Smith is one of the leading suppliers of corrugated cardboard packaging and plastics, operating in 37 countries and having about 27,000 employees.
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