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The global Parchment Paper Market was valued at USD 1.04 Billion in 2023 and is expected to grow to a strong CAGR of around 5.6% during the forecast period (2024-2032) owing to rising consumer preference for sustainable and compostable packaging solutions boosting demand for parchment paper as a greener alternative to plastic-based wraps.
In 2021, Nordic Paper Holding AB bought Glassine Canada Inc. as the company specializes in making greaseproof food-grade paper from Nordic Paper Holding AB. Nordic Paper made a significant strategic move by buying CAD 92 million (SEK 654 million) worth of assets to grow its North American operations which holds the top position as the largest greaseproof paper market worldwide. By acquiring Glassine Canada Nordic Paper grew its product line while making parchment paper more accessible and innovative to customers throughout the region.
Strengthening Presence in North America
Glassine Canada Inc. operates in Québec to supply North American markets with premium greaseproof paper products. The company manages profitability with CAD 35 million (SEK 250 million) in yearly sales and delivers a 27% return before interest and taxes while operating as a dependable firm. By bringing Glassine Canada into its business operations, Nordic Paper gains better accessibility to buyers while broadening its product selection. CEO Anita Sjölander says the Glassine Canada purchase proves Nordic Paper wants to deliver better service to North American customers.
This company move affects the entire parchment paper industry.
· Nordic Paper creates a wider selection of parchment and greaseproof papers that food service businesses and packaging manufacturers can use. The business expansion lets us satisfy customers who want to use recyclable and environmentally friendly materials.
· Nordic Paper reduces delivery delays and simplifies supply chain operations by producing parchment paper at its Québec manufacturing site which makes it more available for North American customers.
· The two companies believe in taking steps to create packaging made from sustainable natural resources that can be recycled. More customers now choose environmentally friendly packaging materials.
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Financial and Strategic Benefits
Nordic Paper used its available cash funds and current bank lines worth SEK 400 million to complete the acquisition. The successful financial results of Glassine Canada show that it will add a profitable subsidiary to Nordic Paper’s operations. Through its Natural Greaseproof division, the company can deliver more customized food product paper grades to customers.
Expanding Company Strength
Nordic Paper’s purchase of Glassine Canada Inc. became a major event for all parties involved in the parchment paper sector. Glassine Canada’s business and manufacturing resources have strengthened Nordic Paper’s position in North America’s greaseproof paper market. The purchase helps Nordic Paper offer more products while meeting worldwide trends toward eco-friendly package solutions. The purchase creates a foundation for parchment paper business growth and brings new ways to serve customers in this market.
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