The Shareholders of Northwood are pleased to announce that they have acquired the trade and assets of Dicepa Papelera in Enate, Spain as well as the trade and assets of the converting plant of Manipa in Madrid.
This brings additional recycled paper production and further increases the security supply for the converting papers needed by the Northwood Companies, as well as giving the wider Northwood Group fresh access to the markets in Spain and mainland Europe. For the paper mill in Enate additional opportunities for expanding its product portfolio will be pursued. Naturally, the Manipa operations will also be expanded and able to offer the wider range of products from the finished product portfolio of the Northwood Companies.
This strategic move at this time of uncertainty underlines the importance of following our long-term goals and for the business to proceed on its growth plans. In spite of challenges of the BREXIT process, our sector is interdependent regardless of borders.
Northwood has been a major client and UK Agent for Dicepa for over 15 years with excellent relations, we are pleased to have now structurally joined forces and linked up the businesses under the Northwood brand.
The businesses in Spain will, on completion of legal formalities, which are anticipated to be completed within 30 days, will operate under the names of:
Northwood Dicepa S.L. for the activities in Enate, Huesca.
Northwood Manipa S.L for the activities in Alcala, Madrid.
Juan Mor will be General Manager of the above Iberian businesses and the resources of the Northwood companies in all respect will now be available to our new business in Iberia. The Share Holders of Northwood Paul, Marc, Adam Fecher and Paul King will be Directors and board members of the above companies.