DS Smith to acquire Turkish packaging business
United Kingdom-based DS Smith Plc, a provider of recycled corrugated packaging, says it has reached an agreement to acquire the Milas packaging business of DasaMilas Ambalaj in Turkey. DasaMilas Ambalaj operates two integrated paper packaging firms in Istanbul.
Milas is a producer of specialised corrugated packaging and displays. The business is focused on international, fast-moving consumer goods customers and is positioned for the Istanbul market as well as for European export, DS Smith says. It generates approximately $25 million in sales and has 240 employees at its production facility near Istanbul.
DS Smith says it expects the deal to be final by the end of its current fiscal year, ending 30 April 2016.
“We are pleased to welcome the Milas business into the DS Smith group and look forward to working with its stakeholders,” says Miles Roberts, CEO of DS Smith.
Cascades reports positive 3Q 2015 results
Canada’s Cascades Inc. has announced sales and operating income figures for the third quarter of 2015 that have grown compared with the prior quarter and with the third quarter of 2014.
Cascades, which describes itself as “a leader in the recovery and manufacturing of green packaging and tissue paper products,” reports sales of slightly more than CA$1 billion (€650 million) in the third quarter of 2015, up 13 percent from CA$900 million (€585 million) in the third quarter of 2014. The sales total also has improved 8% from the CA$950 million (€618 million) recorded in the second quarter of 2015.
The papermaker has reported operating income before depreciation (OIBD) of CA$134 million (€87 million) for the quarter, up 30% from its CA$103 million (€67 million) operating income for the previous quarter and up 44% from CA$93 million (€60.5 million) in operating income for 3Q 2014.
Cascades President and CEO Mario Plourde credits the company’s capacity and product line emphasis decisions made in the previous several years as having allowed it to improve its competitive position in 2015.
Of Cascades’ CA$134 million (€87 million) in operating income in the quarter, more than half (CA$68 million, or €44 million) was from the containerboard division, while tissue accounted for CA$43 million (€28 million).
Vipa Group celebrates 50 years in business
Vipa Group, headquartered in Lausanne, Switzerland, has celebrated its 50th anniversary. The company was founded 2 November 1965, by Michel Ehrlich.
The group is based on two different activities and encompasses two companies. Recycling company Retripa handles collection and sorting of all kinds of materials in Switzerland, with five recovery facilities. The group also includes the trading company Vipa Lausanne, a global merchandiser of recovered paper, prime paper, stock lots and other recyclable raw materials and recycling services.
Serving markets in Europe, the United States, India and Southeast Asia from various offices, the group has continued to expand with the opening of a new office in 2014 in Thessaloniky, Greece, serving the Balkans area, and a new office in Miami, serving the South American market.
The group now has 170 employees, of which 130 are based in Switzerland, and handles more than 1 million tonnes of materials per year.
The family-owned company is now managed by CEO Marc Ehrlich, son of Michel, who joined the company in the late 1990s.