Completion of sale of De Hoop paper mill

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 €50 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    [phone]

Hugo Fisher, Group Investor Relations Director

Media

Greg Dawson, Group Corporate Affairs Director

Brunswick                                                                                                                  [phone]

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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