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In this Edition March 2012 |
FEATURED VIDEOS |
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LEAD FEATURE |
COMPANY NEWS |
MATERIALS NEWS |
MACHINERY NEWS |
INJECTION MOULDING ASIA |
RUBBER JOURNAL ASIA |
 ELECTRONIC ISSUE |
PRA April 2012 Electronic Issue Now Available |
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Company News
Huhtamaki to buy HK firm
F
inland-based packaging firm Huhtamaki Oyj will acquire Josco Holdings, a Hong Kong-based disposable packaging manufacturer, for EUR67 million. The debt-free transaction is scheduled to clear next month.The acquisition will strengthen Huhtamäki's operations globally. Josco is a privately-owned company that employs about 1,350 at two manufacturing plants. It also has two distribution centres in China and a sales office in Hong Kong. It posted 2011 sales of about EUR70 million.
With the acquisition, Huhtamäki will have 12 manufacturing units, including seven flexible packaging plants in Asia and approximately 4,400 employees. The company projects that Asia will account for 15% of its 2012 net sales. Huhtamaki has approximately 12,700 employees and 59 plants in 31 countries. Its 2011 sales totalled EUR2 billion.