Investments underway Austria’s Mayr-Melnhof has unveiled that, in a bid to upgrade and expand the company’s capacities this year, the business will allocate some €300 million to capital expenditure.
“The capex volume of around EUR 300 million expected for 2024, which includes carry-overs from the previous year, will be focussed on selected projects to improve competitiveness,” the firm said in a statement
“With more sustainable and innovative packaging solutions as well as the significantly optimised asset base in recent years and solid financing, MM is very well positioned to successfully manage the persistently challenging market situation,” according to the Austrian packaging specialist.
In the highly-competitive European cartonboard and paper sector, Mayr-Melnhof Board & Paper says it is “currently experiencing a positive volume trend, however, at the same time pressure on margins is continuing.”