Saica Group to acquire a majority stakes in Cartonajes Bañeres and Electro Mariola.

Saica Group, a manufacturer of paper packaging material, agreed to acquire a majority stakes in Cartonajes Bañeres, a manufacturer of corrugated cardboard sheets and boxes, and Electro Mariola, a manufacturer. Financial terms are not disclosed. "With this acquisition, we increase our presence in the Spanish southeast, especially allowing better attention to customers in Alicante and Murcia, both in the industrial and agri-food sectors. This action -highlights the head of the Group- is part of our objective of developing local markets, which allow us to be close to the client. We continue to focus on developing value-added products, providing global solutions to all the packaging needs of our customers in the area," Ramón Alejandro, Saica President.