LONDON (From news reports) -- DS Smith, a leading provider of sustainable packaging solutions, has announced the completion of a significant investment in its box plant in Korinthos, Greece.

The €17.6m ($19.7m) upgrade is part of a broader €33.9m investment plan aimed at enhancing production capacity, energy efficiency, and innovation in the Greek packaging market.

The investment in Korinthos has resulted in a 30% increase in production capacity, thanks to the installation of state-of-the-art equipment, including a new corrugator and a high-speed printing machine.

These upgrades have not only boosted productivity but have also improved the quality of the packaging solutions DS Smith offers to its customers.

"This latest investment will significantly increase our capacity, quality, and portfolio of innovative packaging solutions," said Reinier Schlatmann, regional managing director of DS Smith East Europe.

"It will also enable plastic replacement alternatives and further strengthen our position in this important market".

In addition to the production upgrades, the investment has included the construction of a new 3,300m² raw materials warehouse and an expansion of the site's products warehouse.

DS Smith said these infrastructure improvements have streamlined logistics and enhanced overall efficiency.

The investment in Korinthos is aligned with DS Smith's broader sustainability strategy, which focuses on reducing carbon emissions, promoting circular economy principles, and replacing single-use plastic.

The company said it has already replaced more than one billion pieces of single-use plastic, including seven million in Greece alone.

"Our recent investment in upgrading our production plant in Korinthos is another important step towards adopting good practices based on the circular economy," said George Filippoglou, managing director of DS Smith Hellas.

"Our priority is to support our customers in reaching their environmental targets and offer them high-quality packaging solutions, placing growth and sustainability at the heart of our business strategy."

By investing in its Greek operations, DS Smith is not only strengthening its position in the market but is also contributing to the country's economic growth and sustainability objectives.