As part of its international expansion, Smurfit Kappa has agreed to take over local paper mill Fabrika Hartije Beograd and Avala Ada Beograd, a Serbian corrugated plant. The acquisitions are worth some €133 million, the company said in a statement.
The transactions are expected to “expand SKG’s geographic footprint and provide for full containerboard integration in the Group’s packaging operations in Southeast Europe. FHB and Avala Ada are well invested businesses, with a leading market position in Serbia and solid positions in adjacent countries,” according to Smurfit Kappa.
The containerboard mill is fitted with a containerboard machine with a capacity of 120,000 tonnes, and the corrugated plant has a current production of about 110 million m2, according to data from the firm.