PALM has made an offer to acquire 5 corrugated box plants from International Paper (IP)
The plants are as follows:
- Corrugated box plant Saint-Amand (north-west of France/Normandy)
- Corrugated box plant Mortagne (north-west of France/Normandy)
- Sheet plant Cabourg (north-west of France/Normandy)
- Corrugated box plant Bilbao (north-west of Spain/Basque region)
- Corrugated box plant Ovar (north of Portugal near Porto)
IP agreed to the divestment of these 5 plants as a condition of the European Commission’s clearance of IP’s acquisition of DS Smith on January 31, 2025. The acquisition of the 5 plants from IP is subject to the approval of the European Commission and the French antitrust authorities. Furthermore, the required French works council consultations and employee information processes need to be completed by IP. The closing is expected by the end of the second quarter of 2025.
With the potential acquisition of the 5 corrugated box plants, PALM can further expand its geographical presence in Western Europe. In the future, the company will be able to serve its customers with high-quality corrugated packaging also in Normandy, Spain and Portugal.
