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Huhtamäki Oyj completed the acquisition of Positive Packaging
HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 30.1.2015 AT 12:30
Huhtamaki has completed the acquisition of Positive Packaging, a 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 continued to implement its strategy of quality growth and significantly strengthens its position in the fast-growing emerging markets. The annual net sales of the acquired business are approximately EUR 220 million and it employs approximately 2,500 people in India and UAE as well as in sales offices in seven countries. The debt free purchase price was USD 336 million. The business will be consolidated into the Flexible Packaging business segment as of February 1, 2015.
For further information, please contact:
Jukka Moisio, CEO, tel. +358 10 686 7801
Thomas Geust, CFO, tel. +358 10 686 7880
HUHTAMÄKI OYJ
Group Communications
www.huhtamaki.com
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