The Klöckner Pentaplast Group has acquired Finnish food film specialists Nordpak and Avanspack for an undisclosed amount. The acquired companies are legally independent from each other, but benefit from a well established working relationship. Nordpak produces flexible multilayer films used with high barrier properties. Avanspack imprints and laminates these films to food industry specifications. With approximately 100 employees, the companies have a turnover in excess of €30M/year.
The acquisition will improve the position of the European Klöckner Pentaplast Group, both in terms of the range of products offered and in terms of geographical presence. Due to the market strength of the Finnish companies in Scandinavia and the Benelux countries, a significant growth in market penetration and customer service is anticipated there.
Klöckner Pentaplast has 25 production plants worldwide and claims to be market leader in the production and refining of rigid film for packaging and other technical applications. With 3,800 employees, annual turnover is in excess of €1 billion.
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