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Paranova Print and Packaging plans to invest £20m over five years to expand its fibre-based packaging operations, including a £6m facility and £14m on equipment and automated logistics.
Paranova is building a £6m purpose-built 98,000 sq ft manufacturing site in Godmanchester, Cambridgeshire, expected to be fully operational in November with 150 staff, with a new Koenig & Bauer press arriving in September.
Paranova Print and Packaging completed a £5 million transformation of its St Neots, Cambridgeshire plant, adding 2,000 square metres and tripling capacity for fibre-based food-to-go packaging. The upgrade includes a new custom Bobst press.
Kingswood Capital Management completed the acquisition of Coveris' paper business unit, which will now operate as Paranova Print and Packaging in the United Kingdom.
