DS Smith rejects takeover bid and confirms closure of Montblanc and Valls plants

The decision triggers the final shutdown of both factories this Thursday, affecting 200 employees in Tarragona.

Generic image of the exterior of an industrial plant during sunset.
IA

Generic image of the exterior of an industrial plant during sunset.

The company DS Smith - International Paper officially rejected an acquisition offer from CL Grupo Industrial this Monday, leading to the definitive closure of its plants in Montblanc and Valls.

The decision was communicated to the workforce this afternoon. Consequently, both industrial sites will cease all operations this Thursday, impacting 200 jobs. Negotiations regarding the redundancy package (ERE) are set to continue tomorrow.

"The reason for the rejection was the poor economic conditions of the offer. This has been a reality check."

Antonio Muriana · President of the Montblanc works council
The Government of Catalonia stated they are monitoring the situation to ensure the best possible agreement for the workers, while International Paper remains silent until official notification to public authorities is completed.