DS Smith Announced Huge Investment in East Europe

SEATTLE (Scrap Monster): DS Smith announced significant investment in East Europe. The company has reached an agreement with OTP Real Estate Investment Fund to purchase land in the industrial area of Gyor, a part of which is already occupied by it as a tenant. The purchase of the strategically located land offers tremendous opportunities for the company to advance its future growth plans in the region.

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According to Reinier Schlatmann, Regional Managing Director, DS Smith East Europe, the strategic acquisition will add a state-of-the art facility to its existing footprint. This will not only strengthen its position in the region, but will also provide a powerful platform for plastic replacement solutions.

Meantime, Dora Kenez, CEO of OTP Real Estate Investment fund management Ltd. stated that the sale of the property is part of its long-term strategy.

DS Smith already has wide presence in Hungary, operating two conventional corrugated box plants in Fuzesabony and Nagykata in addition to four service centers in Tiszaujvaros, Nagykata, Szekesfehervar, and Sarvar. The new investment will help DS Smith to gain greater operational control and establish a solid foundation for further growth in the country.

The transaction is expected to close in H1 this year.