VPK Packaging Group expands its business in Belgium
VPK Packaging Group has purchased 2 companies in Belgium in order to strengthen and expand its existing business.
Ecotube, which produces high-quality cores, fits perfectly with the group’s strategy of offering creative responses to its customer’s packaging requirements in an effective, flexible and competitive manner.
Ecotube produces annually more than 1,700 T high-quality cores for the foil industry in Menen. The turnover is 1.2 mio Euro.
This new step continues again the expansion of VPK’s core division. Six plants have today a combined capacity of 60,000 T of cores and realize a turnover of 45 mio Euro. From these production units the major markets in Europe, being the UK, Scandinavia, Germany, France and the Benelux are being supplied. Our tube-winding division disposes of a research and development team, centralized in Belgium which develops successfully new applications and new quality products.
Recyclagebedrijf Van Assche in Dendermonde, which collects recovered paper in East Flanders, contributes additional to the supply of recovered paper.
In 2003 Van Assche sorted 20,000 tonnes recovered paper and its turnover was 1.5 mio Euro.
Together with our 2 other Flemish establishments, our own capacity recycled paper increases to 100,000 tonnes.
Expectations for 2004
In 2004 we expect to realise a consolidated turnover of about 400 mio Euro, which means an increase with 3 to 4% in comparison with 2003.
Due to the strong rise of the costs of, amongst others energy and the overcapacity in the paper market, the margins are under severe pressure.
We suppose that the balance between supply and demand in the paper and packaging market will recover end 2006.
Company profile
VPK Packaging Group, listed on Euronext Brussels, is a Belgian packaging group who has two paper plants, nine corrugated board plants for the production of transport packaging and one solid board plant in the Benelux, France and the UK. Furthermore VPK has six tube-winding companies and five trading companies. In 2003 the Group realised a consolidated turnover of 386 mio Euro and employs 2,600 people.
Ecotube produces annually more than 1,700 T high-quality cores for the foil industry in Menen. The turnover is 1.2 mio Euro.
This new step continues again the expansion of VPK’s core division. Six plants have today a combined capacity of 60,000 T of cores and realize a turnover of 45 mio Euro. From these production units the major markets in Europe, being the UK, Scandinavia, Germany, France and the Benelux are being supplied. Our tube-winding division disposes of a research and development team, centralized in Belgium which develops successfully new applications and new quality products.
Recyclagebedrijf Van Assche in Dendermonde, which collects recovered paper in East Flanders, contributes additional to the supply of recovered paper.
In 2003 Van Assche sorted 20,000 tonnes recovered paper and its turnover was 1.5 mio Euro.
Together with our 2 other Flemish establishments, our own capacity recycled paper increases to 100,000 tonnes.
Expectations for 2004
In 2004 we expect to realise a consolidated turnover of about 400 mio Euro, which means an increase with 3 to 4% in comparison with 2003.
Due to the strong rise of the costs of, amongst others energy and the overcapacity in the paper market, the margins are under severe pressure.
We suppose that the balance between supply and demand in the paper and packaging market will recover end 2006.
Company profile
VPK Packaging Group, listed on Euronext Brussels, is a Belgian packaging group who has two paper plants, nine corrugated board plants for the production of transport packaging and one solid board plant in the Benelux, France and the UK. Furthermore VPK has six tube-winding companies and five trading companies. In 2003 the Group realised a consolidated turnover of 386 mio Euro and employs 2,600 people.
Last update: 16-11-2004
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