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Following new shareholder investment, CorrBoard UK will install a new £1.5m automated palletisation system at its North Lincolnshire plant, alongside IT control system upgrades.
VPK Group raised its shareholding in CorrBoard UK to 50% by buying the stake of former shareholder Garthwest and subscribing for new shares. McLaren Packaging also subscribed for new shares in the North Lincolnshire company.
Belgium's VPK Packaging Group acquired a 30% stake in CorrBoard UK, the Scunthorpe corrugated sheet consortium, from Corrugated Synergies International, and also made a capital increase. The investment aims to advance sheet production volume.