MM sells virgin fiber board plants in Eerbeek and Baiersbronn

The Mayr-Melnhof Group (“MM”) and a subsidiary of Oaktree Capital Management, LP’s advisory funds (“Oaktree”) have reached a firm memorandum of understanding to transfer MM’s virgin fiber board plants in Eerbeek, the Netherlands, and Baiersbronn, Germany, to Oaktree an equity value of EUR 104.6 million plus net debt according to the final invoice.

Eerbeek and Baiersbronn together have an annual capacity of around 245kt virgin fiber board (FBB), which is produced on two board machines, and employ around 400 people. Sales in 2020 reached EUR 195 million.

The sale corresponds to and is part of MM’s strategy to focus on new acquisitions and growth investments.

“We are pleased that our plants in Eerbeek and Baiersbronn are getting a new owner who intends to invest in their future business development. We would especially like to thank the entire workforce for their great work over the past three decades at MM. The sale offers MM the Possibility of a significant cash proceeds for the further Peter Oswald, CEO of the MM Group.

MM will conduct a consultation process with employee representatives and expects the transaction, which is subject to certain closing conditions and regulatory approvals, also with regard to the latest acquisitions of MM , will be completed in the third quarter of 2021.

“We are delighted with the acquisition of the two virgin fiber board plants, in which we will invest additional capital to strengthen the locations. Over the years we have successfully invested in several packaging manufacturers in Europe and believe that the FBB market offers attractive future growth and innovation opportunities, “says Hermann T. Dambach, Managing Director, European Principal Group, Oaktree.
https://www.mayr-melnhof.com/newsroom/presseaussendungen/mm-verkauft-frischfaserkartonwerke-eerbeek-und-baiersbronn/

Related Posts

Bemis Company Reports Third Quarter Earnings

U.S. Packaging net sales of $672.3 million for the third quarter of 2017 represented an increase of 2.2 percent compared to the same period of 2016. Compared to the prior third quarter, unit volumes were up approximately two percent. U.S. Packaging operating profit decreased to $99.6 million in the third quarter of 2017, or 14.8 percent of net sales, compared to $100.8 million, or 15.3 percent of net sales, in 2016. Compared to the prior year, profits were impacted by previously-negotiated contractual selling price reductions on select products, partially offset by manufacturing efficiencies and the benefits of increased unit volumes. Global Packaging net sales of $362.8 million for the third quarter of 2017 represented a decrease of 1.8 percent compared to the same period of 2016. Currency translation increased net sales by 0.5 percent. Organic sales decline of 2.3 percent reflects unfavorable mix of products sold, partially offset by sales price increases. Compared to the prior third quarter, Global Packaging unit volumes were relatively flat, comprised of weak volumes in the Company’s Latin American business, as anticipated, and offset by net volume growth in the remaining regions of the Global Packaging Segment. Global Packaging operating profit for the third quarter was $24.6 million, compared to $36.2 million for the same period in 2016. Compared to the prior year, lower profits in Global Packaging were driven primarily by the impact of the challenging economic environment in Brazil. Click Read More below for additional information.

ePac Flexible Packaging Expands European Presence To Austria

ePac Holdings Europe is proud to announce that the company is expanding its European operations into Austria to serve local and regional businesses. Building on the current locations in Silverstone (England) and Lyon (France), ePac Innsbruck (Austria), will be located in Landeck (Tyrol) and will serve Austria, Switzerland, and Germany. Orders can be placed effective immediately, and will be fulfilled by ePac Silverstone or Lyon until the production facility in Austria is completed. Christian Bischofberger, John Peat and Nick Monk become the Managing Partners for ePac Innsbruck. Christian will lead the operation and is a proven specialist in the printing and packaging industry with more than 20 years of experience. He will be supported by John and Nick (Managing Partners of ePac UK Silverstone), who have already gained a lot of experience with the ePac business model through the successful establishment and operation in Silverstone.

Diversey Wins Two Honors at the CSR Excellence Awards 2023

Diversey has been honored with two awards at the CSR Excellence Awards 2023: “Best Hygiene & Infection Prevention Cleaning Solutions Company — South East Asia” and “Best Personal Hygiene Circular Economy Initiative — South East Asia: Soap For Hope.” The CSR Excellence Awards 2023, launched by the Business Concept, encompass all facets of corporate social responsibility, celebrating businesses advocating for ethical, environmental, philanthropic, or financial initiatives. Diversey’s efforts on sustainability and its commitments to local communities have made it a leading company in these initiatives. Diversey’s Soap For HopeTM initiative exemplifies its dedication to community impact and sustainability. This innovative program empowers disadvantaged communities by providing access to sanitation and creating economic opportunities. By upcycling discarded soaps from hospitality partners, Soap For Hope not only promotes hygiene but also generates income for individuals in need.
Back To Top
×Close search
Search