Italy's Reno de Medici will take over Sweden's Fiskeby to extend its manufacturing footprint and grow its market share in the recycled board market.
Reno de Medici has entered into an agreement to acquire Sweden's recycled board manufacturer Fiskeby. The transaction was expected to close by the third quarter, subject to anti-trust clearance, RDM announced. The value of the deal was not disclosed.
Fiskeby has a staff of 275 and is considered the only producer of packaging board made of 100 per cent recovered fibre in Scandinavia. The company runs one board machine with a web width of 3.7 m and produces of 170,000 tpy of recycled board in basis weights ranging from 280 to 500 g/m². The site in Norrköping also houses four sheet cutting lines and an extruder. RDM believes that "Fiskeby is well-positioned to benefit from the plastic substitution trend, offering in-house extruding and laminating capabilities ready for the development of new products."
Fiskeby puts its annual turnover at approximately SEK1.2bn. The company's biggest sales markets are Sweden, Germany and the UK.
Fiskeby is owned by the Fiskeby Holding LLC, under the leadership of the US industrial family Coors who also own and operate the CoorsTek and Coors Brewery