European Commission Approves Saica’s Acquisition of Thimm Group Plants
The European Commission has approved the acquisition of Thimm Group plants in Germany, Poland, the Czech Republic, and Romania by Saica Group. The deal includes nine corrugated board production facilities across these four countries as well as a preprint facility in Ilsenburg, Germany. This acquisition is expected to significantly expand Saica’s corrugated cardboard production capacity by 1,200 million square metres annually and add approximately 2,500 employees. The move aligns with the company's strategic growth plan under its 'Saica 2025' initiative aimed at strengthening infrastructure in Central and Eastern Europe. The acquisition was announced after Thimm Group’s owning family decided to sell their business to Saica earlier this year.
Topics: corporate acquisition packaging industry regulatory approval