Palm Group takes over AbitibiBowater Recycling Europe
17 Feb 2010
Palm Recycling, a subsidiary of Palm Paper, which is part of the German Palm Group, has acquired the business and assets of Cheshire Recycling, trading as AbitibiBowater Recycling Europe, from the administrators for an undisclosed sum.
Palm Recycling, as the new business will be known, will continue to service the company’s local authority and press room partners.
Dr Wolfgang Palm, Papierfabrik Palm’s CEO, said: “For Palm Paper it means a long-term, secure supply of fibre for our King’s Lynn mill, while Palm Recycling will work with the company’s business partners to provide continuity of service from the existing operations team.”
Managing director, Ron Humphreys said: “This is an important day for all of us in the business and I am thrilled that we are able to quash any uncertainty about our future so quickly. Cheshire Recycling had an illustrious history – from having introduced paper banks into the UK some 25 years ago, to helping to pioneer door-to-door recycling and expanding that to include multi-material collections.”
Palm Paper is a subsidiary of the German Papierfabrik Palm GmbH & Co KG and supplies the UK and Ireland with newsprint, corrugated case material and Kraftliner.
In King’s Lynn the company employs 150 people and runs the world’s largest newsprint machine. The Palm Group also has three paper mills in Germany, 18 packaging plants in Germany, the Netherlands and Switzerland and sales offices throughout Europe.
The sale of Cheshire Recycling, formally trading as AbitibiBowater Recycling Europe, follows the appointment on 2 February of Ernst & Young as administrators to Bridgewater Paper Company.