Germany's Schumacher Packaging group has acquired a majority stake in Kartonfabrik Kaierde, a board producer with one plant in Delligsen, Germany, Euwid reports.
Currently, the board plant has a capacity of 25,000 tpy of greyboard and unbleached board and employs 60 people.
The acquisition will increases Schumacher’s solid board capacity by 50 per cent from 50,000 to 75,000 tpy, which the company views as an important step to secure raw material supply in times of growing demand and production bottlenecks.
Buying into Kaierde is reportedly part of Schumacher's €700m investment programme running to 2025. The amount is planned to be invested in development and growth of Schumacher's plants as well as in future technologies.
Schumacher Packaging group now operates 18 sites in Europe.