In a deal the financial details of which were not disclosed, Greiner Packaging International (GPI, Kremsmünster / Austria; www.greiner-gpi.com) has signed to acquire the cup production activities of Hipol (Odzaci / Serbia; www.hipol.com) – a state-owned conglomerate that is in the midst of being partially privatised. The purchase includes 60 employees as well as technical equipment for extrusion, thermoforming, printing and injection moulding. GPI chief executive Willi Eibner said the acquisition further enhances the group’s strong marketing position in southeast Europe. He added that GPI plans to increase the workforce in Odzaci to 150 over the next three years.

The acquisition is just the latest step in GPI’s efforts to further strengthen its position in southeast Europe, and follows on the heels of last year’s investment to upgrade its K3 packaging equipment at its plant in Bistrica op Dravi / Slovenia. “Our strengths in Slovenia, our existing Serbian location in Nova Pazova, and our participation in Hipol are an ideal complementary combination. This creates synergies resulting in even more intensive and successful operations in regions with emerging markets,” explained Eibner.

GPI operates a 51:49 joint venture with Serbian injection-moulding specialist Jovanovic Plast (Nova Pazova; www.jplast.co.rs) in Serbia – see Plasteurope.com of 04.02.2010.