DS Smith www.dssmith.com has completed the purchase of Ecopaperwww.ecopaper.roand Ecopack www.ecopack.ro in Romania. DS Smith expects that this agreement, for 208 million euros, will increase the packaging and paper production capacity of the group and will support its growth in eastern Europe.
«The Romanian business has shown strong development over many years and is well positioned in the local FMCG market (fast moving consumer goods, that is low cost products which are sold quickly, replaced or used up). Ecopaper and Ecopack’s portfolio of customers and products matches well with DS Smith’s offer, affording strong potential for further growth and significant cost synergies», declared DS Smith in a memorandum. The company has also stated that it will keep the 400 current employees and might increase the work force if market demand grows.