CONSTANTIA FLEXIBLES
Takeover of South Africa's Afripack completed
Now that all relevant antitrust authorities have given their blessing, Constantia Flexibles (Vienna / Austria; www.cflex.com) has completed its purchase of flexible packaging producer Afripack (Durban / South Africa; www.afripack.co.za). The deal was announced in July (see Plasteurope.com of 14.07.2015).
 Afripack´s employees have now officially joined Constantia Flexibles (Photo: Constantia Flexibles) |
The acquisition, financial details of which remain undisclosed, will give the Austrian group a foothold in what it called one of the “fastest-growing markets for flexible packaging.” According to a recent study by Applied Market Information (AMI, Bristol / UK; www.amiplastics.com), Africa's plastics market is expected to grow by 8% per year to 2018, with food packaging making up the largest end application (see Plasteurope.com of 13.05.2015).
Afripack’s 1,150 employees are spread across four plants in South Africa, as well as one each in Kenya and Mauritius. The company posted sales of about EUR 103m in the financial year ended September 2014.
Afripack’s 1,150 employees are spread across four plants in South Africa, as well as one each in Kenya and Mauritius. The company posted sales of about EUR 103m in the financial year ended September 2014.
17.12.2015 Plasteurope.com [232895-0]
Published on 17.12.2015
German version of this article...