Daily Newsletter

29 August 2023

Daily Newsletter

29 August 2023

Saica Group agrees to acquire minority stake in Pacapime

Pacapime generated €61m ($65.83m) in revenue in 2022, with 80% of its sales in the food sector.

Jangoulun Singsit August 28 2023

Recycled paper manufacturer Saica Group has entered into agreement to acquire minority stake in Belgian corrugated cardboard company, Pacapime.

Based in Halle, Belgium, Pacapime is a leading manufacturer of cardboard and cardboard packaging, with 80% of its sales in the food sector.

The company produced 82 million m² of cardboard in 2022 and generated €61m ($65.83m) in revenue during the year.

Pacapime has strong presence in the Benelux countries, France and Germany, providing direct employment to 109 people.

In addition to heavy recycled paper usage, Pacapime relies on own solar panels for a third of its annual energy needs.

The acquisition is in line with Saica’s 2025 strategy of focusing on sustainable growth and developing its business model across Europe. 

Saica Group president Ramon Alejandro said: “This partnership makes great sense for Saica, increasing our exposure to Northern European countries in the growing corrugated cardboard packaging market in which we are already leaders.

“Pacapime also shares our laser-eyed focus on sustainability and innovation, and we are confident that together, we will be able to bring our customers even better solutions and service as they seek to reduce the carbon footprint of their packaging.”

Saica Group specialises in manufacturing recycled paper for corrugated board. It operates four business lines comprising Saica Paper, Saica Natur, Saica Pack and Saica Flex.

In July this year, Saica signed an agreement to acquire a minority stake in Taschetti’s corrugated board plants in Italy.

Asia Pacific Renewable Energy Policy 2023 Analysis

Countries in the APAC region should look to invest on upgrading grid infrastructure, energy storage systems, microgrids, and support mechanism for renewables to be able to achieve their climate goals. The growth trajectory of Europe cannot be implied in APAC since several countries were late entrants into the renewable market. APAC countries should look to weave their own roadmap towards achieving net zero emissions and leverage the large population into adopting renewable technology.

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