INFIANA
Brazilian packaging production plant sold to Packing Group / Economic prospects in the country not deemed favourable to speciality films
 The plant in Bahia was sold for an undisclosed amount (Photo: Infiana) |
Infiana (Forchheim / Germany; www.infiana.com) – the company that emerged following the MBO of Huhtamaki’s (Espoo / Finland; www.huhtamaki.com) Films unit in early 2015 (see Plasteurope.com of 16.01.2015) – has sold its flexible packaging production facility in Bahia / Brazil to Packing Group (Valinhos / Brazil; www.packinggroup.com). Financial details of the deal were not disclosed. The plant in Bahia is capable of turning out 110,000 t/y of packaging, making it one of Latin America’s largest producers.
Company CEO Peter Wahsner said the sale is part of Infiana’s strategy to focus on engineered release films, process films and speciality films. Given the difficult economic conditions in Brazil, the German company does not expect these particular products to be performing well in the Latin American country in the medium-term.
Following the sale – which Wahsner said will not impact the company’s global business – Infiana will have two production sites, located in Malvern / USA and Samutsakorn / Thailand. The company’s roughly 800 employees posted sales of EUR 205m in 2015.
Company CEO Peter Wahsner said the sale is part of Infiana’s strategy to focus on engineered release films, process films and speciality films. Given the difficult economic conditions in Brazil, the German company does not expect these particular products to be performing well in the Latin American country in the medium-term.
Following the sale – which Wahsner said will not impact the company’s global business – Infiana will have two production sites, located in Malvern / USA and Samutsakorn / Thailand. The company’s roughly 800 employees posted sales of EUR 205m in 2015.
09.02.2016 Plasteurope.com [233295-0]
Published on 09.02.2016
German version of this article...