The piece-by-piece expansion of Austrian packaging producer Schur Flexibles (Baden; www.schurflexibles.com) continues. As laid out in the “buy and build” strategy adopted by its founders – investment group Capiton (Berlin / Germany; www.capiton.de) and industrial expert Jakob Mosser (see Plasteurope.com of 12.09.2012) – the Baden-based group in March purchased 100% of the shares in Slovakian flexible packaging producer Moneta-S (Michalovce; www.moneta-s.com). Financial details of the purchase, which takes effect immediately, were not disclosed.

Founded in 2002, Moneta-S uses a proprietary technology to produce printed films of a unique thickness of rotogravure that it says can easily be processed, maintaining superior aesthetics while simultaneously being ecologically sustainable. The Slovakian company supplies to more than 46 global food manufacturers.

Commenting on the acquisition, Schur CEO Mosser said Moneta-S would open up the eastern European market for the Austrian group. He added that, “This acquisition will give us the opportunity to utilise Moneta’s breakthrough technology throughout our 11 production plants and allow us to offer significant technological advantage to our customer base. Moneta-S will play an important role to strengthen our focus on high value added flexible packaging solutions and technology leadership.”

Schur Flexibles has a total workforce of 1,150 and operates nine companies in Germany, Denmark, Finland, The Netherlands, Poland and Greece. It posts annual revenues of about EUR 265m.