Spanish containerboard and corrugated packaging manufacturer Europac Group has acquired packaging plant in the town of Lucena, in Cordoba, for €9.8m to boost its packaging operations.
The firm acquired two companies that jointly own the comprehensive packaging plant, which is located in the geographical centre of Andalusia
The two companies, including Industrias Cartones Ondulados Andaluces (ICOA) and Ondulados Andaluces (OASA), are engaged in manufacturing corrugated cardboard and using cardboard for packaging.
Europac executive chairman José Miguel Isidro said: “The purchase of the Lucena plant is the result of our long-term project to expand in the packaging sector and fulfill the commercial strategy of the Packaging Division in Spain, where the company does not yet have the position it deserves.”
The facility, which will be called Europac Packaging Lucena in future, comprises one corrugator and three converters to turn cardboard into boxes.
In 2016, the plant used 7,000t of paper and produced 16 million m2 of cardboard and packaging.
Europac in Spain Packaging Division country manager Luis Serrano said: “Our commercial objective is to strengthen the current position in the industrial sector and move into new markets, specifically those of agriculture and food, which are especially relevant strategic sectors in Andalusia and big consumers of packaging.”
Europac is planning to invest €10m to expand its facilities, increase production, purchase new assets and optimize current assets. The investment is expected to create 25 direct new jobs.
