StockMarketWire.com - Packaging company DS Smith said it had completed the planned sale of the De Hoop paper mill in the Netherlands to De Jong Packaging for €50 million.

The deal was first announced on 16 July.

'The mill produces mainly heavier grades of recycled paper and the sale further aligns our internal paper production with our priorities in light-weight sustainable packaging solutions for FMCG and e-commerce customers,' DS Smith said.

Sale proceeds would fund previously announced new corrugated box plants in Italy and Poland, and a significant expansion of the Arnstadt packaging facility in Germany.


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