Palm Paper Group Acquires Corrugated Board Producer Seyfert
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Palm Paper Group, Germany, has acquired the operations of corrugated board producer Seyfert, Germany. Terms of the deal have not been disclosed.
Based in Reichenbach a. d. Fils, Germany, Seyfert has been in the ownership of the Seyfert family for 102 years. The deal will allow the company to "develop further under the Seyfert name" and "remain a reliable and competent supplier and partner for its existing customers," the company notes.
Seyfert has three corrugated plants in Germany. In France, it has three corrugated plants and two sheet feeding plants, as well as a paper mill for recycled corrugated case material. In 2013, the company had a turnover of EUR 280 million and employed 1,200 people.
The Palm Group consists of four paper mills, with seven paper machines. It produces newsprint and corrugated case material, and runs 17 convertor plants for corrugated base material. In 2013, the company’s turnover was EUR 1.15 billion, and it employed 3,000 people.
