Pappenverarbeitungs-Gesellschaft m.b.H.

Pappenverarbeitungs-Gesellschaft m.b.H. manufactures cartons and processes paper and boards according to its corporate purpose. In fiscal year 2011 the company reported sales of EUR 11,072,558.30 and employed 104 staff as of 31 December 2011 (including 20 apprentices, 7 short-term employees and 12 temporary workers). In 2011 a substantially larger production hall with a corrugated board line of 120 metres total length was built; the technical capacity is 150 million square metres of corrugated board p.a. and the actual investment amounted to EUR 13.6 million, financed by loans, additional equity and a grant from the State of Hesse. The company is a 100% subsidiary of TITUS Verpackungen GmbH and is subject to a profit-and-loss transfer agreement under which the fiscal-year deficit of TEUR 598.9 was taken over by TITUS.