The European Commission (EC) has approved Saica Group’s acquisition of Thimm Group plants in Germany, Poland, the Czech Republic and Romania.
The deal covers all activities in those four countries, comprising nine corrugated board plants. It also includes one preprint facility in Ilsenburg, Germany.
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Saica said the operation will increase its corrugated cardboard production capacity by 1,200 million square metres and add around 2,500 employees.
The acquisition will support its objective of developing local markets and getting closer to customers, it added.
Saica Group president and CEO Susana Alejandro said: “We are very happy to integrate Thimm’s team within Saica Group, its knowledge and skills are highly appreciated in the sector. At Saica Group, people makes the difference: they are what drives our organisation. We are convinced they will contribute to Saica’s future and its success.
“This operation is a very important milestone for us, it is a step forward in Saica’s business growth strategy with the aim of further developing our infrastructures and services in Central and Eastern Europe. It is part of the development plans of the company defined by Saica 2025, the strategic plan of the company.”
In May, the owning family of Thimm Group decided to sell the company to Saica Group.
