Takes 30% stake in the sheet feeder
VPK Packaging Group NV (VPK) has acquired a 30% stake of CorrBoard UK Ltd, the privately owned corrugated sheet manufacturer located in North Lincolnshire, UK, by capital increase and acquisition of CSI’s stake in the consortium.
CorrBoard UK will be fully supported by the proficiency of Rigid Containers Ltd, a VPK company that converts 340 million sqm of corrugated material per annum in the UK and Ireland. VPK Packaging Group’s CEO Pierre Macharis stated,
“CorrBoard’s modern 320,000 sq ft factory is impressive and with VPK’s strong management, know-how and skills, we expect to continue to operate as an independent unit with a dedicated strategy. This will deliver high service levels and a competitive product offering to the market.”
A CorrBoard spokesperson commented, “Our operational success will be further enhanced with VPK’s involvement and we plan to grow the current volume of 130 million sqm of sheets produced off the state-of-the-art 2.8m Fosber corrugator. We also produce 35 million sqm of single faced product from the same machine. VPK have a proven track record in their Aquila sheet-feeding business producing 700 million sqm of sheets per annum”.
A statement released by CorrBoard’s sheet plant partners expressed gratitude to Corrugated Synergies International for its expertise and assistance during the past three years as operational partner at the plant, and welcomes VPK into the organisation to further develop the business. The CorrBoard consortium also includes Beaucrest Packaging Solutions, Dairi-Pak, Fencor Packaging Group, GWP Group, Garthwest, McLaren Packaging and Swanline Print.