Prinzhorn Group announces major investments in Western Europe

Prinzhorn Group has confirmed major investments in Western Europe for Hamburger Containerboard, Hamburger Recycling and Dunapack Packaging, the three divisions which constitute its circular business model. The investments, with a total of around €300m, reflect the company’s long-term strategy of growing value and maximising impact for its business, environment and society.

Hamburger Containerboard is expanding its existing power plant in Spremberg, Germany, to include a second combustion line producing greater efficiency in steam and electrical energy generation. The project will replace externally produced steam based on lignite and will be a significant step towards energy self-sufficiency.

Hamburger Containerboard is also replacing its high-pressure natural gas boilers in Pitten, Austria, with two natural gas turbines including heat recovery boilers. This means that power generation based on environmentally friendly technology reduces the CO2 footprint allowing the plant to become independent from any external power supply.

“We have finalised 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’” said Harald Ganster, Chairman of the Board, Managing Director for Prinzhorn Holding and the Division Containerboard.

Dunapack Packaging has completed the take-over of the corrugated packaging plant Scatoloficio La Veggia s.p.a. located in Roteglia (Reggio Emilia, Italy) as of September 5th 2023. The plant has a production capacity of 200 million sqm annually with around 140 employees. Prinzhorn Group had announced its strategic long-term interest in Italy in 2022.

Max Hölbl, Managing Director for Prinzhorn Holding and the Division Packaging, said, “I would like to thank the whole team who made the closing of this complex transaction possible. With the entry into the 2nd largest corrugated market in Europe, we are adding an important piece to our strategic goals. We are 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 signed a contract covering the takeover of the Italian recycling company Eurocart, together with its affiliated company Berica Recuperi. The recovered paper specialist located in Vicenza operates with three logistic centres, 130 employees and has the capacity to collect and process 239,000 tons of paper for recycling and other secondary raw materials annually. Eurocart will continue operations under its current name. The transaction is subject to merger clearance and approval by the relevant authorities. The latest acquisition will raise Hamburger Recycling’s recovered paper capacity to 2.1 million tons a year, with 39 locations in 13 countries.

“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,” said Andreas Walser, Managing Director, Hamburger Recycling.

Lionello Olivieri, the shareholder of Eurocart stated, “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.”

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