Netherlands, Feb. 06, 2003 / VPK Packaging Group, a specialist in production and distribution of packaging based on recycled paper, took over all the shares in Maasbach on 1 January 2003. As a result VPK Packaging Group can further expand its specialised trading activity aimed at niche markets and reinforce its leading role as the ideal logistical partner.

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VPK Packaging Group has become the owner of Maasbach Verpakkingen B.V., based in Krimpen aan den IJssel. Maasbach is the market leader in trading in packaging for the meat industry and therefore complements the two other trading companies in the VPK Packaging Group in the Netherlands, together with Handelsmaatschappij Ons Belang (Noordwijkerhout), the largest supplier to the flowers and bulbs market, and Twinpack (Barneveld) which focuses mainly on packaging for chickens and eggs. Maasbach's turnover in 2002 was 3.6m euro and the company employs nine people. The consolidated turnover from specialised distribution will be more than 50m euro in 2003, partly thanks to this acquisition. The aim is to develop these activities further in Belgium and France too.

In three years VPK Packaging Group has evolved from being a product-oriented organisation into a service organisation, focusing its attention not only on the products that are manufactured but also on customers' specific needs in terms of packaging demand, printing, supply chain, JIT deliveries, etc… The total range of services provided to the customer is brought together in the VPK Packaging Solutions® concept.

VPK Packaging Group achieved a consolidated turnover of 363m euro in 2002. This maintained the status quo in comparison with 2001, which can be seen as a good result in the current economic climate. The results of VPK Packaging Group will be announced on 25 March 2003 after the market closes.

VPK Packaging Group, quoted on Euronext Brussels, has 2 paper factories, 9 corrugated board factories producing transit packaging in Belgium, France, the Netherlands and the UK, 1 solid board company and 4 companies producing tubes and cores. The group's existing packaging divisions have a cumulative paper consumption of 400,000 tonnes per year. VPK Packaging Group has more than 2,400 employees in 5 countries.