Our Paper and Recycling divisions have a vital role in shaping how we at DS Smith redefine packaging for a changing world. Colin McIntyre, CEO of Paper and Recycling Divisions at DS Smith, talks about our new purpose and what it means to him. For me, our purpose of ‘Redefining Packaging for a Changing World’ really sets DS Smith up for helping to solve some of the major recycling and packaging challenges we face in society today. We have already seen how we are doing that in our work on coffee cup recycling, and in our recent report on plastic replacement opportunities. Our purpose is about why we exist as a business, it’s about our sense of being, it’s about what really drives all of us in DS Smith - it’s an incredibly powerful tool that drives our work on both sustainability and innovation. A key motivation for me is driving waste and inefficiencies out of our own operations, and this is crucial to us providing sustainable recycling solutions and the best quality high performing packaging papers to meet the changing demands of the packaging industry.
Stora Enso has entered into an equity transfer agreement to increase its ownership stake from 51% to 90% in its Chinese subsidiary Stora Enso Inpac Packaging Co. Ltd. The transaction is based on the terms of an option agreement dated October 2010. The cash consideration is approximately EUR 46 million. The transaction is subject to regulatory approval by Chinese authorities and is expected to be finalised during the first quarter of 2016.
The transaction gives Stora Enso a better opportunity to develop the Inpac Packaging business further and to execute the strategy in the region. The transaction will have no impact on group’s sales or operating profit.
Stora Enso Inpac offers fibre-based packaging solutions with design, production, sales and R&D services. The company has production units in Qian’an, Dongguan and Jiashan in China and sales offices in Beijing, Shanghai and Dongguan, and serves leading global and local brand owners.