VPK Packaging Group NV has increased its shares to become a 50% shareholder through capital increase and the acquisition of the stake of former shareholder Garthwest. VPK has an annual turnover of 1.6 billion euros and employs over 6,100 employees at more than 65 production sites in 19 countries. CorrBoard will shortly be installing a new £1.7m automated palletisation system as well as significant IT control system upgrades. CorrBoard is also benefiting from an increase in shares from Scotland-based McLaren Packaging. Adjacent to CorrBoards site is CorrBoard Bioenergy Ltd, a joint venture between Swanline and McLaren, which provides energy to CorrBoard facilitating carbon neutral manufacture.
