Prinzhorn Group informed that its subsidiary Hamburger Turkey had signed a land purchasing agreement to set up a third paper mill in Kütahya, Turkey. The EUR 300 million investment is planned to be finalized in 2020.
According to the announcement, the new paper machine will have state-of-the-art technology, a width of 7,80m and an annual production capacity of 480.000 tonnes containerboard, mainly light-weight Testliner and Fluting.
Cord Prinzhorn, CEO of Prinzhorn Group, commented:
“Turkey is an important market for us and this investment shows our strong commitment to this fast growing region. If all relevant factors, such as governmental permissions and political stability, show a green light we are happy to proceed with the next project steps.”
Hamburger Turkey Ltd is part of the Hamburger Containerboard Division with a total of seven paper mills in four countries and 2Mt of produced container board per year. The two existing paper
mills in Turkey are based in Corlu and Denizli.
Hamburger Containerboard Division is part of the Prinzhorn Group, which employs 6.300 people in 15 countries and ranks among the European market leaders in the recycling, paper and packaging industry. With an annual turnover of EUR1.2 billion the group is number three in Europe in this segment.
Earlier Prinzhorn completed expansion of uncoated containerboard mill in Germany
About Prinzhorn Group:
The company is ranked among the European market leaders in the recycling, paper and packaging industry. With an annual turnover of approximately EUR 1.2 billion, it is number three in Europe in this segment. Prinzhorn employs around 6,000 people in 15 countries.