Reno de Medici Group har completed the announced acquisition of Papelera del Principado SA.
Founded in 1977, Paprinsa operates in the recycled White Lined Chipboard (WLC) business. Today, it is the second largest producer of recycled cartonboard in Spain and the eighth manufacturer of cartonboard in Europe. The company has both its headquarters and mill in Mollerussa, just 130 km from Barcelona and less than one hour from the plant of RDM Barcelona Cartonboard.
The mill has a trim width of 4.8 meters, which will make it the widest plant in RDM Group, as it is one of the largest paper mills of this sector in Europe. By further exploiting this size, RDM Group can count on a potential increase in the factory’s production capacity from the current 140,000 tons a year to over 200,000 tons a year, in line with the other top plants today part of the Group.
The plant has an overall workforce of about 140 employees.
The deal covers the acquisition of three smaller companies operating in contiguous businesses based in the same site, including Ondupacart S.A., a small corrugator manufacturer.
Michele Bianchi, CEO of RDM Group, stated: “The acquisition of Paprinsa clearly confirms our competitive positioning as the leading company in Southern Europe in the segment of recycled cartonboard, as part of a clear long-term strategy and leveraging on a solid financial position”
