Germany/Austria: Austria based Prinzhorn Holding, a family-owned company with headquarters in Wiener Neudorf near Vienna, Austria has confirmed the takeover of the papermill Fritz Peters GmbH & Co KG. At the location in Gelsenkirchen, around 140 workers manufacture a total of 205,000t/yr of corrugated board and plasterboard liner. It has been agreed that the purchase price will remain confidential.
Located in the middle of the Ruhr region, the Peters papermill has developed into a local market leader over the past few years. The plant specialises in the production of packaging paper and technical specialty paper (such as white and brown testliner), as well as plasterboard liner. All paper products are manufactured using 100% recycled paper. The Peters papermill's annual tonnage has more than tripled since it was founded in 1972.
"We expect to see numerous synergies stemming from the integration of the plant in Gelsenkirchen with the group's other German production locations," Cord Prinzhorn, the CEO and owner's representative for Prinzhorn Holding, explained. "Our plans for Gelsenkirchen include extensive measures to increase efficiency and capacity. The new location in the heart of Germany will enable us to meaningfully optimise transport routes to our clients. The takeover is a result of our long-term expansion strategy for the future as well as our integrated production strategy, from recycling the raw material paper to producing high-quality packaging", said Cord Prinzhorn.
The approval of trade authorities is necessary for the conclusion of the purchase. Prinzhorn Holding and the seller have agreed to keep all other details about the purchase confidential.
Hamburger Rieger is part of the Hamburger Containerboard Division of the Austria-based Prinzhorn Holding. Until now, Hamburger Rieger has been producing high-quality corrugated board at two locations in Germany – Spremberg in Brandenburg and Trostberg in Bavaria. The product lines RiegerLiner, RiegerTop, and SpreeWhite have transformed the company into a leader in quality for the white covered quality papers market segment. With 1.8Mt/yr, Hamburger Containerboard is one of the leading producers of high-quality containerboard in Europe. Hamburger Containerboard papers are made exclusively out of recycled paper.
