Huhtamaki has entered into an agreement to
acquire Positive Packaging, a privately owned flexible packaging company with nine
manufacturing facilities in India and the United Arab Emirates as well as
significant business in Africa and other export markets. With the acquisition
Huhtamaki continues to implement its strategy of quality growth and strengthens
its position in the fast-growing emerging markets.
"I am extremely pleased to announce
this acquisition," says Jukka Moisio, CEO of Huhtamäki Oyj. "It
further enhances our position in India and provides us with much improved
access to the fast growing markets of Africa and Middle East. Many of our
global customers are investing heavily to grow in these markets, and now we are
even better resourced to help them grow."
"Together with Positive Packaging
Huhtamaki will become a leading flexible packaging provider in the fast-growing
emerging markets," says Shashank Sinha, Executive Vice President, Flexible
Packaging. "With the acquisition we expand our flexibles manufacturing
into Middle East and double our sales in Africa with an unmatched
footprint," he continues. "In addition, Positive Packaging's
expertise in high quality printing and cylinder making, as well as their strong
focus on innovations are a perfect fit for Huhtamaki's growth strategy."
Part of the Enpee group of companies with nine
manufacturing facilities in India and the UAE as well as significant business
in Africa and other export markets, Positive Packaging was set up two decades
ago and had embarked on a successful route right since its inception. PPIL manufactures
multi-layer laminated, printed, and metallised films using bi-axially-oriented
poly-propylene, polyester film, and aluminium foil. It also manufactures
rotogravure-printing cylinders and laser-engraved printing cylinders,
metallised films and cast poly-propylene (CPP) films. It might be of interest
to know that Positive Packaging had acquired Bengaluru-based label printing
firm SGRE Labels in 2012.
The transaction is subject to the approval
of competition authorities and other regulators and it is expected to be
finalized in the fall.
With its head office in Espoo, Finland, Huhtamaki
Group is a leading manufacturer of consumer and specialty packaging with 2013
net sales totaling Eur 2.3 billion. Foodservice and consumer goods markets are
served by approximately 14,400 people in 61 manufacturing units and several
sales offices in 30 countries.
