Completion of sale of De Hoop paper mill

Further to the news in July, DS Smith has confirmed the completion of the sale of the De Hoop paper mill in the Netherlands to De Jong Packaging.

The mill produces mainly heavier grades of recycled paper and the sale further aligns internal paper production with DS Smith’s priorities in light-weight sustainable packaging solutions for FMCG and e-commerce customers.  The consideration of €50m will support further enhancement of the coampny’s packaging capacity, partially funding the previously announced new greenfield corrugated box plants in Italy and Poland, and a significant expansion of the Arnstadt packaging facility in Germany.

Miles Roberts, Group Chief Executive, said, “I am pleased that we have completed the sale of the De Hoop mill, which is consistent with our long term strategy to align our paper production and footprint with the needs of our packaging customers. I would like to thank our colleagues at the De Hoop mill for all their hard work and wish them all the best with De Jong Packaging.”

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