Saica Group to Acquire Norm Ambalaj's Corrugated Box Plant in Sakarya, Turkey
Feb. 27, 2019 - Saica Group announced that on Feb. 25 it reached an agreement with the group Norm Ambalaj to acquire their plant in Sakarya, Turkey. Terms of the deal were not disclosed and it is subject to approval by the Turkish anti-trust authorities. The acquisition would provide an increase of 75 million square meters in Saica's corrugated board capacity while increasing its product footprint and product range for the Turkish market. Saica said that it will continue its collaboration with Norm Ambalaj following this partnership agreement. "This operation is an opportunity to increase Saica´s value proposition of sustainable packaging solutions in the Turkish market. It will also optimize material and logistics costs for our customers while reducing Saica´s environmental impact," said Pascal Giraud, General Manager, Saica Pack, a division of Saica Group. Saica entered the Turkish market in 2014 and since then the group has made several investment projects to further develop its infrastructures and machinery in the country. Saica is one of the largest players in the development and production of recycled paper for corrugated cardboard in Europe, with a production of 3.3 million tons of paper. With more than 10,000 employees across Spain, France, Italy, Portugal, UK, Ireland, Turkey, Luxembourg and The Netherlands; Saica Group has four business areas: recycled paper production for corrugated cardboard (Saica Paper), recyclable materials recovery (Saica Natur), production of corrugated packaging (Saica Pack) and flexible packaging (Saica Flex). To learn more, please visit: https://www.saica.com SOURCE: Saica |