about us | newsletter | contact | archive | members area
Bogdan Nitulescu, Tremend
Cryptocurrencies volatility is a big problem»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

DS Smith is looking for growth on the Romanian packaging market

DS Smith announced the completion of its 208 million Euro acquisition of EcoPack and EcoPaper, Romania. The acquisition significantly increases DS Smith's capacity to serve customers in a high-growth region as well as supporting the company's existing operations in Eastern Europe.

2018-03-08 11:17:20

"Our short, medium and long-term objective is to grow and continue to develop our business, considering that the market has big potential," Miles Roberts, CEO of DS Smith, said in an interview for The Diplomat-Bucharest. "All past acquisition had a positive influence on our global evolution, so we are confident that this new transaction in Romania will keep the same trend. As our LSE financial reports show, we have an organic growth every year. In 2016, the group turnover increased by six per cent to 4.8 billion pounds and last year, after six months, we had a 5.2 per cent advance."

According to Miles Roberts, the packaging market is a dynamic one all over the world including in Romania: "In the context of the expansion of e-commerce, this importance is growing rapidly. In our opinion, the market has a potential of 600 million Euro, but we anticipate a fast-growing evolution in the years ahead."

With the takeover of the majority stake in the two newly acquired factories, DS Smith's market share will be between 10 per cent and 15 per cent.

Miles Roberts underlined the packaging market is extremely dynamic and has had a constant growth every year because of the positive evolution of the consumer goods industry, the growth of online commerce ant the change in the consumers behaviour.

In his opinion, the two factories are complementary to the existing client data base: "DS Smith owns two other productions units in Romania and offers significant cost-related synergies. With the acquisition of the two factories in Romania, we become one of the local market leaders."

DS Smith will retain the existing 400 employees and could increase the workforce of the two newly acquired factories as demand grows.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  3270 Views
Daily Info
Smart city is not a fad, it's a necessity

In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo...

Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers"

"We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u...

Telekom Romania, a strong supporter of Smart City development in Romania

Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society...

In the industrial era, the fight was for finite material resources. Not anymore

Now organizations fight and develop themselves for and around their talent. In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e...

Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania"

Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p...

 
 
   
advertising

advertising

advertising

More on News
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania

Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.

FDI in Romania rises 10 per cent after ten months in 2018

Non-residents' direct investment in Romania (net FDI) totaled 4.56 billion Euro in January-October 2018, around 10 per cent more compared to the same period of 2017, Romani...

Catrina, MCSI: Romania is ready to roll up its sleeves and work during the presidency of the EU Council

Romania is ready to roll up its sleeves and work during the presidency of the Council of the European Union (EU), said Maria Manuela Catrina, State Secretary at the Ministr...

Two billion youth risk of being left behind in the Fourth Industrial Revolution workforce, says Deloitte

Almost two billion youth worldwide risk of being left behind in the Fourth Industrial Revolution (Industry 4.0) workforce, which is changing at an increasingly rapid pace a...

ArcelorMittal receives binding offer for European assets from Liberty

British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people.

Revolut gets European banking license

Fintech startup Revolut is now officially a bank. While the startup initially expected to get its European banking license during the first half of 2018, the company has fi...

The Romanian labour market needs a well-thought approach, says FIC

The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting w...