Huhtamäki Oyj strengthens its folding carton packaging business in the United States with another acquisition
(Thomson Reuters ONE) -
HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 30.11.2011 AT 20:45
Huhtamaki has acquired the assets and business of Ample Industries, Inc., a
converter of folding cartons in the United States. With the acquisition, the
Group further strengthens its position in the North American foodservice
packaging market.
"We are pleased to announce another acquisition implementing our strategy of
profitable growth," says Jukka Moisio, CEO of Huhtamäki Oyj. "With Ample
Industries, Inc. and the previously acquired business of Paris Packaging, Inc.,
we have successfully added a new line of high quality products into our North
American foodservice assortment. This complementary range extension allows us to
serve our customers even better."
The assets and business of the privately held Ample Industries, Inc. were
acquired by Huhtamaki, Inc., Huhtamäki Oyj's US based subsidiary, for a purchase
price of EUR 23 million (USD 31 million). The annual net sales of the acquired
business are approximately EUR 45 million (USD 60 million). The business, which
employs approximately 230 people in Franklin, Ohio, will become part of
Huhtamaki's North America business segment. The acquisition is expected to be
EPS accretive as of 2012.
"We plan to further increase our presence in the foodservice market in North
America," says Clay Dunn, Executive Vice President North America. "In addition
to the recently acquired folding carton capabilities we plan to increase our
capacity in paper cups and further expand our range with pressed paperboard
plates," he continues.
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 12,700 people in 59 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.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Huhtamäki Oyj via Thomson Reuters ONE
[HUG#1567638]
Unternehmensinformation / Kurzprofil:
Datum: 30.11.2011 - 19:45 Uhr
Sprache: Deutsch
News-ID 92683
Anzahl Zeichen: 2994
contact information:
Town:
Espoo
Kategorie:
Business News
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