Remshalden, Germany/Aalst, Belgium 12 April 2017 -- Six months after the acquisition of Peterson by VPK Packaging Group, Klingele and VPK have announced that they will join forces to continue investing in the Scandinavian business unit. A business and investment plan has been launched to strengthen its market position. Going forwards, Klingele will participate in this Nordic market expansion. The partnership between both manufacturers is a continuation of an existing and successful European collaboration.

In October 2016, the Scandinavian packaging group Peterson was acquired by VPK Packaging Group from its previous owner, Pemco. The Peterson group's 800 employees manufacture corrugated cardboard packaging in six sites in Norway, Sweden and Denmark, achieving a total turnover of EUR 160 million. Three production sites are located in Norway (two in Sarpsborg and one in Sykkylven), two in Sweden (Bäckefors and Norrköping) and one in Denmark (Randers), equalling a total production capacity of 350 million square meters. The group is the market leader in Norway, and has a strong presence in Denmark and Sweden. To guarantee future growth in the Nordic market, an extensive investment plan has been launched in all three countries. This master plan, in which Klingele now participates through a 26% shareholding, will focus on quality certification, product innovation and productivity increase. With support from two dynamic and experienced packaging manufacturers, Peterson aims to further capitalise on the potential of the burgeoning Scandinavian market to strengthen its market position. Klingele and VPK will be extending an existing and fruitful partnership with this project.

Continuing an European partnership

Back in 2013, after a long-term cooperation within the alliance Blue Box Partners, Klingele and VPK co-founded the successful conversion of a publication paper mill into a containerboard mill. This collaboration resulted in the Blue Paper manufacturing unit, which today ranks among the top units in Europe within its category. The partnership in Scandinavia will further expand this successful collaboration into the corrugated packaging sector. Blue Box Partners (BBP) is the leading European network of four like-minded packaging manufacturers: Cart-One, Hinojosa Packaging, Klingele Papierwerke and VPK Packaging Group. This collaboration was founded more than 10 years ago to meet the needs of European customers. Today, BBP employs 8,000 staff in 68 sites, from Norway to Spain, and from Ireland to Romania, achieving a turnover of over EUR 2 billion. The interest in Peterson supports this European network.

About Klingele

Klingele, a German family-owned company since 1920, is one of the leading independent producers of recycled corrugated base paper and corrugated board packaging. With two paper mills, six box plants and six converting plants (excluding Peterson) in Europe and Africa, the group generates sales of EUR 400 million, and has a total of 1,330 employees. www.klingele.com

About VPK

VPK Packaging Group is a leading manufacturer of sustainable packaging, with 47 manufacturing sites in 16 countries. Its 4,850 employees manufacture recycled paper, corrugated board packaging, solid board packaging and cores. All paper is exclusively produced from recycled fibres, and all packaging is fully recyclable. Through its long-term company vision and strategic investments, VPK exceeded the turnover threshold of EUR 1 billion last year. Its headquarters is located in Aalst, Belgium. www.vpkgroup.com