HUHTAMÄKI OYJ PRESS RELEASE 30.9.2019 AT 15:40
Huhtamaki adds manufacturing capacity in India to speed up growth
Huhtamaki has agreed to acquire the assets and operations of Mohan Mutha Polytech Private Limited (MMPPL), a privately-owned flexible packaging manufacturer located in Sri City, Andhra Pradesh, India. The acquisition allows Huhtamaki to speed up its growth in India by improving its capability to serve the customers in South India.
MMPPL has approximately 160 employees and its net sales in 2018 were approximately EUR 9 million. The business will be consolidated into the Group's flexible packaging business in India. The debt-free purchase price is approximately EUR 10 million. The transaction is expected to be closed by the end of 2019.
For further information, please contact:
Media: Katariina Hietaranta, Head of External Communications, tel. +358 10 686 7863
Investors: Calle Loikkanen, Head of IR and Financial Communications, tel. +358 10 686 7125
Huhtamaki is a global specialist in packaging for food and drink. With our network of 79 manufacturing units and additional 24 sales only offices in altogether 35 countries, we're well placed to support our customers' growth wherever they operate. Mastering three distinctive packaging technologies, approximately 18,100 employees develop and make packaging that helps great products reach more people, more easily. In 2018, our net sales totaled EUR 3.1 billion. The Group has its head office in Espoo, Finland and the parent company Huhtamäki Oyj is listed on Nasdaq Helsinki Ltd. Additional information is available at www.huhtamaki.com.