Progroup AG has entered into an agreement to acquire the combined heat and power plant located in Eisenhüttenstadt, Germany, from EnBW Energie Baden-Württemberg AG, as the company said in the press release received by Lesprom Network.
The combined heat and power plant supplies steam to Progroup’s nearby paper machine. The acquisition is effective as of December 31, 2015. The transaction remains amongst others subject to approval by the competent anti-trust authorities.
By acquiring the combined heat and power plant, Progroup hopes to ensure a cheaper and more efficient supply of energy to its nearby paper machine, in particular by effects of integration.
The paper machine at the production site in Eisenhüttenstadt is one of the largest and most advanced of its kind in Europe with an annual production capacity of 650,000 tons.
Progroup is a leading manufacturer of corrugated board in Europe.