Progroup AG acquires thermal power plant in Eisenhüttenstadt, Germany
Progroup AG has entered into an agreement to acquire the combined heat and power plant located in Eisenhüttenstadt, Germany, from EnBW Energie Baden-Württemberg AG. The combined heat and power plant supplies steam to Progroup’s nearby paper machine. The acquisition is effective as of December 31, 2015.
ByLesprom Network
Dec 09, 2015. /Lesprom Network/. Progroup AG has entered into an agreement to acquire
the combined heat and power plant located in Eisenhüttenstadt, Germany, from EnBW Energie Baden-Württemberg AG, as the company said in the press
release received by Lesprom Network.
The
combined heat and power plant supplies steam to Progroup’s nearby paper
machine. The acquisition is effective as of December 31, 2015. The transaction remains amongst others subject to approval by the
competent anti-trust authorities.
By
acquiring the combined heat and power plant, Progroup hopes to ensure a cheaper
and more efficient supply of energy to its nearby paper machine, in particular
by effects of integration.
The
paper machine at the production site in Eisenhüttenstadt is one of the largest
and most advanced of its kind in Europe with an annual production
capacity of 650,000 tons.
Progroup is a leading manufacturer of
corrugated board in Europe.
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