Packaging is everywhere in our daily lives and the management of packaging waste has become key to limit the environmental burden. CO2 conscious production of packaging and well-established recycling processes are key to managing this challenge. HEINZEL GROUP, with its production subsidiary Laakirchen Papier AG, is actively working on this challenge and plans to transform its Upper Austrian sites into a hub for sustainable paper packaging and renewable energy from 2024 onwards.
Client
Laakirchen Papier AG, a subsidiary of HEINZEL GROUP
Product
- Club Loan OeKB Exportinvest Green
- Club Loan RCF (Revolvierende Kreditfazilität)
Each together with Raiffeisenlandesbank Oberösterreich and Oberbank.
Use of funds
Conversion of a paper machine from production of graphic to packaging paper, including improvements to its sustainability such as higher biogas production, energy savings, CO2 emission and water reduction as well as improvements to the internal circular economy of the facility.
HEINZEL GROUP
HEINZEL GROUP is a leading producer and trader in the pulp and paper industry. Headquartered in Vienna the group employs 2,400 people servicing customers in more than 110 countries generating more than EUR 2 billion in revenues in 2021. HEINZEL GROUP’s successful growth is based on an entrepreneurial spirit, a focus on long-term partnerships and a commitment to sustainability.
HEINZEL GROUP
HEINZEL GROUP is a leading producer and trader in the pulp and paper industry. Headquartered in Vienna the group employs 2,400 people servicing customers in more than 110 countries generating more than EUR 2 billion in revenues in 2021. HEINZEL GROUP’s successful growth is based on an entrepreneurial spirit, a focus on long-term partnerships and a commitment to sustainability.
"With this investment, HEINZEL GROUP is further expanding its position as a leading producer of recycled packaging paper," says Sebastian Heinzel, CEO of HEINZEL GROUP. “This market is expanding strongly, not least because of the increases in e-commerce and the growing displacement of plastic packaging.”
Partner for the sustainable change
Erste Group acted as Coordinator, Mandated Lead Arranger, Bookrunner and Documentation Agent for both facilities. Erste Group was joined by Raiffeisenlandesbank Oberösterreich and Oberbank.
“The transformation to a sustainable way of doing business requires a holistic and coordinated approach. Still, it has different implications and requirements for each industry. We want to be a partner for our clients, supporting them on their way to a more sustainable economy. With an OeKB Exportinvest Green we support financings of domestic investments of an Austrian company with an export quota of at least 20%. If the investment is environmentally friendly and conserves resources or if it is in energy efficiency measures additional 20% of the investment costs can be financed and up to 40% of the commercial risk can be covered by the Republic of Austria” explains Ulrike Gaubitzer-Macho, Industry Lead Pulp, Paper & Packaging, at Erste Group Bank AG.