The Indian subsidiary of Finnish packaging producer Huhtamaki (Espoo; www.huhtamaki.com) has acquired 51% of the shares in privately-held Webtech Labels (Mumbai / India; www.webtechlabels.com) for around EUR 7m. Webtech Labels, which has annual sales of EUR 10m, specialises in manufacturing high-end pressure sensitive labels, particularly for the pharmaceuticals market.

Jukka Moisio, Huhtamaki CEO, said: “We continue to implement our growth strategy, and we are pleased to add this expertise to our offering in a fast-growing market such as India.”

Earlier this year, Huhtamaki has acquired Chinese packaging manufacturer Josco (Hong Kong; www.josco.com.hk) and has announced plans to further strengthen its position in Asia (see Plasteurope.com of 26.03.2012).