UK-based company seeks to focus its efforts on the paper and packaging sector.
DS Smith, headquartered in London, has announced plans to sell its extended polystyrene (EPS) businesses in Denmark and Sweden to the Norwegian plastics organization BEWi Group.
DS Smith’s decision to sell its Flamingo business in Denmark and Cellplast business in Sweden is part of the company’s strategy to focus on its goal of becoming the top supplier of recycled packaging products for consumer products, primarily corrugated.
BEWi Group has been intimately involved in developing and manufacturing EPS products since its founding in 1980. With the purchase of the two brands the company has reported it is seeking to become a leading EPS company in Northern Europe.
In selling off the assets, Thomas Kure Jakobsen, DS Smith Denmark’s managing director, says, "Our focus lies on continuously positioning ourselves as the market leader within innovative recycled packaging solutions for consumer goods, and our core business will always be corrugated and corrugated-related accessories.
“Our EPS activities represent a very healthy business with a big potential, which we would very much like to see being realized, and we completely trust BEWi Group to be able to do that with their vast experience in EPS manufacturing and their highly specialized business. Not only is the sale of our EPS businesses a natural next step for both DS Smith and BEWi Group, it is a genuine win/win situation," Jakobsen adds.