The Europac Group has reached an agreement to sell its packaging factory in Tangier, Morocco, to International Paper. The transaction amounted to Euro 40 million, which after balance sheet adjustments add to Euro 44 million. The operation contributes a consolidated net profit of Euro 10 million to 2017 fiscal year, after investing in the construction, start-up and operation of the business. The sale agreement has the approval of the Conseil du Concurrence, the anti-trust authority in Morocco, as the company says in the press release received by Lesprom Network. At the close of year 2016 the turnover of the Tangier factory, inaugurated in February 2016, was Euro 8 million with negative EBITDA of Euro 2 million. In 2017 the Moroccan factory operation has an expected marginal effect upon Europac’s consolidated accounts. Click Read More below for additional detail.
Mondi, a global leader in packaging and paper, has once again won the prestigious EUROSAC Grand Prix Sack of the Year award, this year for its revolutionary EcoWicketBag.
EUROSAC, the European Federation of Multiwall Paper Sack Manufacturers, chose Mondi’s EcoWicketBag for its potential to reduce plastic packaging waste in the global hygiene industry. The packaging needs for this market are huge: the sector includes diapers, sanitary products and toilet and kitchen tissues – and the global diaper market alone is estimated to be worth approximately 65.9 billion U.S. dollars by 2027(1). The vast majority of the products have been wrapped in plastic – until now.
Mondi’s EcoWicketBag design is a paper-based packaging solution that provides an alternative to traditional plastic packaging, replacing it with renewable, recyclable paper. Created from strong virgin kraft paper sourced from sustainably managed forests, it is the first paper wicket bag that runs on existing equipment. It is available in a variety of sizes, is strong enough to handle the filling process and protect the product throughout the supply chain. EcoWicketBag’s design and printability ensure great on-shelf appeal, it is also easy to open and end-consumers know how to dispose of paper correctly.
The packaging industry’s latest innovations are presented each year at the EUROSAC Grand Prix. The main criterion of the competition is that the sack solutions must add value to the industry, whether in terms of innovation, sustainable development, design, high-quality printing or as a customer message carrier.
“We see the EcoWicketBag as a real game changer. This development can be implemented very quickly and responds to our industry’s objectives to produce paper sacks that are made from 100% natural materials and fulfil the same functions as plastic sacks”, explains jury president Matthias Becker-Gröning the jury’s choice.
“Our bag-making expertise and knowledge of kraft paper meant we were able to rethink the whole packaging process to create the EcoWicketBag. Using our EcoSolutions approach, we worked closely with our customers to truly understand the needs of the consumers, the brands and the products. We explored all stages of production, supply and disposal. EcoWicketBag is sustainable by design, helping our customers to meet their sustainable goals and easily disposed of in existing paper streams, thereby supporting the circular economy.” Fabio Barbieri, Sales Director Paper Bags, Mondi