The Vienna-based Prinzhorn Group, which owns Hamburger Containerboard and the Hamburger Recycling Group, says it has made a proposal to acquire corrugated packaging plant Scatolificio La Veggia S.p.A. (SLV), in Roteglia, Italy, from the La Veggia Group of companies.
Prinzhorn describes La Veggia as being “in the course of a restructuring process under Italian law.” It says Prinzhorn and SLV will “take the necessary steps in the coming months in order to facilitate and prepare for the final take-over, which is expected in the course of 2023” after court proceedings. Neither party has disclosed a purchase price for the SLV facility, which was built in 1964.
On its website, La Veggia has posted a Forest Stewardship Council (FSC) certification for the SLV mill showing it has met the requirements for FSC Mix and FSC Recycled certification. The website does not list what percent of recovered paper is used as feedstock at the mill.
The Hamburger Containerboard business unit made a move in November 2020 to increase its presence in Europe when it ramped up its new PM2 [paper machine No. 2] at the Hamburger mill in Spremberg, Germany.
That 370 million euro ($438 million at the time) investment raised the capacity in Spremberg to nearly 900,000 tons per year of packaging-grade output. “At full capacity utilization of new PM2, an additional 500,000 tons of high-quality white and brown packaging papers [can be] produced annually,” stated the firm.
The Prinzhorn Group says it has 10,000 employees in 16 countries and describes itself as third in European market share in the packaging, paper, and recycling industry with annual sales of 2.3 billion euros ($2.45 billion.)
The company’s three business units are: Dunapack Packaging (corrugated packaging products); Hamburger Containerboard; and Hamburger Recycling (collection and trading of secondary raw materials).
Prinzhorn makes a bid for a board mill in Italy
