Huhtamaki invests to grow in China
(Thomson Reuters ONE) -
HUHTAMÄKI OYJ PRESS RELEASE 16.9.2016 AT 9:15
Huhtamaki invests to grow in China
Huhtamaki supports the profitable growth of its foodservice business in China by
investing in the expansion and modernization of its manufacturing unit in
Guangzhou, South China. The total investment including site expansion,
improvements in plant layout and new high-speed machinery is expected to be
approximately EUR 15 million. "With its growing population and rapid
urbanization China is an important market for our quick service and specialty
coffee customers. With this investment we will create a modern, efficient, high-
capacity manufacturing unit and significantly improve our productivity and
capability to serve our customers in the future," says CEO Jukka Moisio.
The investment follows Huhtamaki's earlier announced actions to improve the
competitiveness of its foodservice business in China and consolidate the South
China manufacturing operations. The modernized unit will manufacture a defined
core foodservice packaging product range. Majority of the investment will take
place in the latter part of 2016 and early 2017, and the modernization is
expected to be completed by the end of 2017.
"This major investment brings our operations in China into a new level and
strengthens our position as a leading foodservice packaging provider in East
Asia," says Eric Le Lay, Executive Vice President, Foodservice Europe-Asia-
Oceania business segment. "We're pleased to invest in serving our customers
better and helping them grow."
For further information, please contact:
Jukka Moisio, CEO, tel. +358 10 686 7801
Thomas Geust, CFO, tel. +358 10 686 7880
Kaisa Uurasmaa, Investor Relations, tel. +358 10 686 7815
HUHTAMÄKI OYJ
Group Communications
Huhtamaki is a global specialist in packaging for food and drink. With our
network of 73 manufacturing units and 23 sales offices in 34 countries, we're
well placed to support our customers' growth wherever they operate. Mastering
three distinctive packaging technologies, approximately 17,000 employees develop
and make packaging that helps great products reach more people, more easily. In
2015 our net sales totaled EUR 2.7 billion. The Group has its head office in
Espoo, Finland and the parent company Huhtamäki Oyj is listed on Nasdaq Helsinki
Ltd. Additional information is available at www.huhtamaki.com.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Huhtamäki Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 16.09.2016 - 08:15 Uhr
Sprache: Deutsch
News-ID 495194
Anzahl Zeichen: 3044
contact information:
Town:
Espoo
Kategorie:
Business News
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