Prinzhorn Group has unveiled substantial investments in Western Europe for its three divisions - Hamburger Containerboard, Hamburger Recycling, and Dunapack Packaging, which together form its circular business model. These investments, totaling approximately 300 million euros, underscore the company's long-term strategy of "growing value" and maximizing its positive impact on business, the environment, and society.

In Germany, Hamburger Containerboard is expanding its existing power plant in Spremberg, adding a second combustion line to enhance the efficiency of steam and electrical energy generation. This project will replace externally sourced steam from lignite and represent a significant move towards energy self-sufficiency.

Additionally, Hamburger Containerboard in Pitten, Austria, is replacing its high-pressure natural gas boilers with two natural gas turbines, complete with heat recovery boilers. This shift to environmentally friendly technology will substantially reduce the CO2 footprint and allow the plant to operate independently from external power sources.

Mr. Harald Ganster, Chairman of the Board and Managing Director for Prinzhorn Holding and the Containerboard Division, stated, "We have finalized our comprehensive decarbonization roadmap and are committed to today's 'gold standard' regarding CO2 reduction - the Science Based Target Initiative (SBTI). These two investments will significantly contribute to Prinzhorn Group's sustainability objectives."

Dunapack Packaging has successfully acquired the corrugated packaging plant Scatoloficio La Veggia s.p.a. in Roteglia, Italy, effective September 5th, 2023. This plant boasts an annual production capacity of 200 million sqm and employs around 140 individuals. Prinzhorn Group had previously expressed its long-term strategic interest in Italy in 2022.

Mr. Max Hölbl, Managing Director for Prinzhorn Holding and the Packaging Division, expressed gratitude for the completion of this complex transaction, adding, "With the entry into the 2nd largest corrugated market in Europe, we are adding an important piece to our strategic goals. We are very much looking forward to serving international as well as local customers with the best of our proven service quality, benefitting from our integrated business model with internal paper supply by the Hamburger Containerboard Division. With the company Scatoloficio La Veggia s.p.a., we are taking over a good asset base and well-trained people, which we cordially welcome to our Group."

Hamburger Recycling has entered into an agreement to acquire the Italian recycling company Eurocart, along with its affiliated company Berica Recuperi. Eurocart, based in Vicenza, specializes in recovered paper and operates with three logistics centers, 130 employees, and the capacity to collect and process 239,000 tons of paper for recycling and other secondary raw materials annually. The transaction is subject to merger clearance and approval by relevant authorities. This acquisition will increase Hamburger Recycling's recovered paper capacity to 2.1 million tons per year, with 39 locations in 13 countries.

Mr. Andreas Walser, Managing Director of Hamburger Recycling, commented on the acquisition, stating, "With the acquisition of Eurocart, we have the ideal partner for our growth and sustainability strategy. Eurocart not only contributes additional volume to the group but also expands our external business relationships, further enhancing our position as a reliable partner and supplier on the international market of the paper industry and the production of substitute fuels."

Mr. Lionello Olivieri, the shareholder of Eurocart, added, "Hamburger Recycling is the ideal partner to implement our ideas and meet the challenges of waste management. Investments for growth, integration, and the development of our international business relations will secure jobs and strengthen our position on the Italian market."

 

Source:dunapack-packaging.com

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