VPK Packaging Group has Reached an Agreement to Acquire Corenso
Aalst, Belgium 21 February 2019 -- VPK Packaging Group has reached an agreement to acquire the European and Chinese businesses of coreboard and tube producer Corenso. Corenso is an international supplier of coreboard, cardboard tubes and cores which are used in a broad range of demanding industrial applications. The agreement between VPK Packaging Group and NPAC International Inc. - a company controlled by Madison Dearborn Partners - is for the acquisition by VPK of Corenso's European and Chinese activities, consisting of two coreboard mills and 13 core converting plants. The activities of Corenso in North America will continue to be owned by NPAC International. The agreement remains subject to customary conditions and is expected to be completed in second quarter of 2019. VPK's core and tube division, marketed under the Corex brand, has 14 sites for the production of industrial cores and tubes for winding paper, foil, textiles and metal. In addition, Corex also produces composite cans used for packing food, snacks, spices, cosmetics and spirits. International scalingThe acquisition of Corenso broadens the geographical spread to regions where VPK has not been active to date. Important new markets are Finland, Spain and China. Based on a customer-oriented vision, VPK Packaging Group wants to offer an answer to the global demand for cardboard cores and tubes. **** Onlypulpandpaperjobs.com has taken off like a rocket! Over twenty jobs are posted, in many interesting categories. Those jobs are in at least ten different US states. (02-01-19) ****Employers are on board with onlypulpandpaperjobs.com. There are twenty plus employers located in ten different US states and two other countries. (02-01-19) ****
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