Smith (DS) PLC Completion of sale of De Hoop paper mill (8652O)
13 Octubre 2021 - 1:00AM
UK Regulatory
TIDMSMDS
RNS Number : 8652O
Smith (DS) PLC
13 October 2021
13 October 2021
Completion of sale of De Hoop paper mill
Further to the announcement of 16 July 2021, DS Smith is pleased
to announce the completion of the sale of the De Hoop paper mill in
the Netherlands, to De Jong Packaging. The mill produces mainly
heavier grades of recycled paper and the sale further aligns our
internal paper production with our priorities in light-weight
sustainable packaging solutions for FMCG and e-commerce customers.
The consideration of EUR50 million will support further enhancement
of our packaging capacity, partially funding the previously
announced new greenfield corrugated box plants in Italy and Poland,
and a significant expansion of our Arnstadt packaging facility in
Germany.
Miles Roberts, Group Chief Executive , said: "I am pleased that
we have completed the sale of the De Hoop mill, which is consistent
with our long term strategy to align our paper production and
footprint with the needs of our packaging customers. I would like
to thank our colleagues at the De Hoop mill for all their hard work
and wish them all the best with De Jong Packaging."
Enquiries:
DS Smith Plc
Investors +44 (0)20 7756 1800
Hugo Fisher, Group Investor Relations Director
Media
Greg Dawson, Group Corporate Affairs Director
Brunswick
+44 (0)20 7404 5959
Dan Roberts, Sophia Lazarus
Forthcoming dates
Pre-close half year trading update 28 October 2021
Results for the half year to 31 October 2021 9 December 2021
About DS Smith
DS Smith is a leading provider of sustainable paper-based
packaging worldwide which is supported by recycling and papermaking
operations. It plays a central role in the value chain across
sectors including e-commerce, fast moving consumer goods and
industrials. Through its purpose of 'Redefining Packaging for a
Changing World' and its Now and Next sustainability strategy, DS
Smith is committed to leading the transition to the circular
economy, while delivering more circular solutions for its customers
and wider society - replacing problem plastics, taking carbon out
of supply chains and providing innovative recycling solutions. Its
bespoke box-to-box in 14 days model, design capabilities and
innovation strategy sits at the heart of this response. DS Smith is
committed to science-based targets for carbon reduction and to
achieving net zero by 2050. DS Smith operates in 34 countries
employing around 29,000 people and is a Strategic Partner of the
Ellen MacArthur Foundation.
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