Greek companies with billions of euros of investments in Turkey are keeping a close eye on developments in the neighbouring country as the eastern economy kneels under the weight of a meltdown in the Turkish Lira.
Eren s Shotton containerboard machine to be largest in UK letsrecycle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from letsrecycle.com Daily Mail and Mail on Sunday newspapers.
Monday, May 17, 2021
UPM has agreed to sell its Shotton newsprint mill in North Wales to a subsidiary of Turkish conglomerate Eren Holdings.
Shotton: disposal reduces UPM s annual newsprint capacity by 250,000 tonnes
UPM announced last summer that it planned to sell Shotton, with the proviso that its paper machine would be converted to non-newsprint grades.
The deal is expected to be finalised in Q3. It involves the mill site and all its related assets, including its Renewable Energy Generation plant and MRRF (Material Recovery & Recycling Facility).
All 190 employees will transfer to the new owners.
Eren Paper is acquiring the operation. It is a UK subsidiary of Modern Karton Sanayi Ve Ticarate, which lays claim to being the biggest paper producer in Turkey manufacturing a range of corrugated packaging materials.