Austria’s Hamburger Containerboard GmbH will invest EUR 300 million in a new greenfield paper mill in Kütahya, Turkey. Slated for completion in 2020, the new state-of-the art and eco-friendly facility will produce 480,000 tons of containerboard per annum and create job opportunities for 500 people.
A September 13th meeting hosted by ISPAT President Arda Ermut and attended by Cord Prinzhorn, CEO of the Austrian Prinzhorn Holding, Harald Ganster, Managing Director of Hamburger Containerboard GmbH, and Velişah İner, Managing Director of Hamburger Turkey, saw the unveiling of the details of the first greenfield investment by Hamburger Containerboard in Turkey.
ISPAT President Arda Ermut revealed that Hamburger Containerboard had worked with ISPAT for almost three years on its first greenfield investment in Turkey. “The EUR 300 million investment in Kütahya has been finalized with the land purchase by Hamburger Turkey. A total of 500 new jobs will be created,” said Ermut. "This investment progressed to an advanced stage following a three-year effort, and it is notable for being completely eco-friendly. Once again, this investment confirms that Turkey is a key market for European companies. We see that European investors are still showing a great deal of interest in Turkey."
Arda Ermut thanked the Turkish Embassy in Vienna, the Turkish Ministry of Industry, the Kütahya Municipality, and the Zafer Development Agency for their collaboration and support throughout the process.
Hamburger Turkey is a part of Hamburger Containerboard, which has seven paper mills in four countries and an annual production of 2 million tons of containerboard. The company has two other mills in Turkey, in Çorlu and Denizli. The new paper mill will employ cutting-edge technology and use a width of 7.80 m for an annual production capacity of 480,000 tons of containerboard.
Hamburger Containerboard GmbH is part of the Prinzhorn Holding, which employs 6,300 people in 15 countries and ranks among the European market leaders in the recycling, paper and packaging industries. Prinzhorn Holding is ranked third in its segment in Europe, with an annual turnover of EUR 1.23 billion. The family-owned Prinzhorn Holding has its headquarters in Vienna, Austria. Prinzhorn Holding has three main divisions: Dunapack Packaging (corrugated packaging solutions), Hamburger Containerboard (paper production) and Hamburger Recycling Group (collection and trading of waste papers).