Mondi Packaging Saint Quentin sold to VPK Packaging Group NV

Feb 10, 2009. /Lesprom Network/. VPK Packaging Group NV, a vertically integrated Belgian packaging group, has reached an agreement with Mondi regarding the purchase by VPK Packaging Group of all the shares in Mondi Packaging Saint Quentin SAS, a French subsidiary of the Mondi group, VPK Packaging said in a statement received by Lesprom Network. Mondi Packaging St-Quentin, which company name will soon be changed into “Ondulys Saint Quentin”, is a corrugated box plant, located in the northern part of France (Picardie) and realised in 2008 a turnover of Euro 48 million. The 160 employees of Ondulys Saint Quentin produce 100 million square metres per year corrugated customized packaging for mainly food, drink and FMCG producers. This modern plant was built as greenfield in 1992 and has a modern and highly productive equipment. This acquisition fits perfectly in the strategy of VPK Packaging Group to concentrate on its core activities, namely those of a producer of high value-added packaging materials based on recycled paper fibre. This acquisition will further strengthen Ondulys, the French corrugated packaging division that will now realise a yearly turnover of Euro 200 million. The corrugated plant of Ondulys in Lille (France) will specialise in high added-value packaging with high service levels. Oudegem Papier (Belgium) will be the main paper supplier of the Saint Quentin plant. The European paper & packaging industry is facing challenging moments due to the actual economic recession. Even if the demand for ecological packaging for food, drink and FMCG products remains defensive, VPK Packaging Group will implement measures that will lead to a rationalisation of its business activities. As part of this strategy VPK Packaging Group has closed down recently in January its papermill Rigid Paper in Selby (UK ). VPK Packaging Group NV is a packaging group of Belgian origin with 26 companies spread over 12 European countries.