December 14 (SeeNews) - British packaging provider DS Smith said on Thursday that it plans to invest 16 million euro ($17.6 million) in new equipment at its production plant in Serbia’s southern city of Krusevac as part of plans to grow in eastern Europe.
The investment will support ongoing efforts to replace plastic packaging, increase capacity by 25% and significantly increase productivity, DS Smith said in a press release.
The new equipment will strengthen capabilities in innovative packaging design for fast-moving consumer goods and supports automated packaging lines, it added.
In August, DS Smith entered into an agreement to acquire Serbian packaging company Bosis.
DS Smith operates in more than 30 different countries and employs over 30,000 people, according to the company's website.
DS Smith began operations in Serbia in 2004. Elsewhere in Southeast Europe, DS Smith is present in Bosnia and Herzegovina, Bulgaria, Croatia, Romania, North Macedonia, Slovenia, Greece and Turkey.
($ = 0.9114 euro)