DS Smith to Buy Land, Building Housing Its Győr Plant
DS Smith, a leading provider of sustainable packaging solutions, paper products, and recycling services, today announced that it has agreed to purchase the land and building that houses its current Győr facility.
The property of approximately 28,500 sqm is strategically located in a key industrial area of Győr. The building is well suited to DS Smith's business needs, offering opportunities for future growth and supporting the manufacture of packaging solutions for plastic recycling.
DS Smith Packaging Hungary has until now occupied part of the property as a tenant. The seller is OTP Real Estate Investment Fund Management.
"I am pleased to announce another investment by DS Smith in Eastern Europe, the acquisition of our Győr site in Hungary. This strategic investment will add a state-of-the-art facility to our existing plant, further strengthening our position in the region and providing our customers with the right platform for packaging solutions to replace plastic," said Reinier Schlatmann, managing director, DS Smith Eastern Europe Region.
"The sale of the Győr property is part of OTP Real Estate Investment Fund Management's long-term strategy. We have an excellent relationship with DS Smith, who is the largest tenant in the property, and we are pleased that as a result of our cooperation, they will own the property in the future," added Dóra Kenéz, CEO of OTP Real Estate Investment Fund Management.
This strategic acquisition strengthens DS Smith's presence in Hungary, where the company operates two traditional corrugated packaging plants in Füzesabony and Nagykáta, and four service centers in Tiszaújváros, Nagykata, Székesfehérvár and Sárvár.
The investment will ensure the long-term continuity of operations at DS Smith's Győr plant, optimize its cost structure, and provide a solid basis for further growth in Hungary, the company says.
The transaction is expected to close in the first half of 2024.
Erste Bank Hungary Q1 Earnings Close to HUF 29 bln
Hungary Welcomes Extension of China's Visa Exemption Policy
Living's Kassák Terrace and Park West 3 Classified as Brownf...
Aldi Opening Biggest Store in Budapest
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
