Huhtamäki Oyj acquires a specialty folding carton manufacturer in the United States
(Thomson Reuters ONE) -
HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 1.9.2011 AT 23:00
Huhtamaki has acquired assets and business of Paris Packaging, Inc., a
manufacturer of specialty folding cartons in the United States. With the
acquisition Huhtamaki continues to implement its strategy of profitable growth,
significantly strengthening its positions in the North American foodservice and
consumer goods packaging markets.
The assets and business of Paris Packaging, Inc., owned by 21(st) Packaging
Holding, L.P., were acquired by Huhtamaki, Inc., Huhtamäki Oyj's US based
subsidiary, for a purchase price of EUR 22.8 million (USD 32.5 million). The
2010 net sales of the acquired business were approximately EUR 43 million (USD
62 million). The business, which employs approximately 300 people in three
manufacturing units located in Paris, Texas; Andalusia, Alabama and
Hopkinsville, Kentucky, will become part of Huhtamaki's North America business
segment. The acquisition is expected to be EPS accretive as of 2012.
"This acquisition is an example of the quality growth Huhtamaki is focused on as
we leverage our solid financial position to become even more competitive," says
Jukka Moisio, CEO of Huhtamäki Oyj.
"We are pleased to have acquired such a high quality business," says Clay Dunn,
Executive Vice President North America. "The addition of a new specialty folding
carton product platform complements our existing offering of tableware, cups,
containers, carriers, trays and serviceware, and demonstrates our commitment to
growth in North America."
For further information, please contact:
Jukka Moisio, CEO, tel. +358 10 686 7801
Timo Salonen, CFO, tel. +358 10 686 7880
HUHTAMÄKI OYJ
Group Communications
Huhtamaki Group is a leading manufacturer of consumer and specialty packaging
with 2010 net sales totaling EUR 2 billion. Foodservice and consumer goods
markets are served by approximately 12,500 people in 58 manufacturing units and
several sales offices in 31 countries. The parent company, Huhtamäki Oyj, has
its head office in Espoo, Finland and its share is quoted on the NASDAQ OMX
Helsinki Ltd. Additional information is available at www.huhtamaki.com.
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originality of the information contained therein.
Source: Huhtamäki Oyj via Thomson Reuters ONE
[HUG#1543497]
Unternehmensinformation / Kurzprofil:
Datum: 01.09.2011 - 22:01 Uhr
Sprache: Deutsch
News-ID 61865
Anzahl Zeichen: 3035
contact information:
Town:
Espoo
Kategorie:
Business News
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