Spain: Sonoco merger advances concentration in Spanish paper sector

US paper company Sonoco has reached an agreement with its Catalan counterpart Texpac to acquire its subsidiaries, Conitex (in which Sonoco already has a 30% participation) and Compositub.

The operation was notified to the National Commission of Markets and Competition, being valued at 123 million euros (US$143 million).

Sonoco is one of the global giants in the paper industry, with more than 21,000 employees worldwide. In Spain, the company operates a cardboard tube production plant in Zaragoza.

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