ARMANDO ALVAREZ
Takeover of Spanish packaging manufacturer Envaflex
 Envaflex's warehouse in Utebo (Photo: Envaflex) |
Spanish plastics converter Armando Alvarez (Torrelavega; www.armandoalvarez.com) has signed a binding agreement to buy 100% of its smaller competitor Envaflex (Utebo / Spain; www.envaflex.net) in mid-April 2018. The transaction is expected to be completed within the next two months.
The Utebo-based company near Zaragoza specialises in printing and laminating films packaging for food. It processes PE, PP cast, BOPP and PET films. With approximately 100 employees, the company generated a turnover of EUR 25m in 2017.
Armando Alvarez saw its 2017 revenues rise by almost 8% to EUR 915m, of which about a third was from exports. The group employs around 2,000 people.
The Utebo-based company near Zaragoza specialises in printing and laminating films packaging for food. It processes PE, PP cast, BOPP and PET films. With approximately 100 employees, the company generated a turnover of EUR 25m in 2017.
Armando Alvarez saw its 2017 revenues rise by almost 8% to EUR 915m, of which about a third was from exports. The group employs around 2,000 people.
04.05.2018 Plasteurope.com [239654-0]
Published on 04.05.2018
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