Finnish packaging manufacturer Walki (Espoo; www.walki.com) has agreed to acquire Mondi Belcoat, the Belgian extrusion coating company of the Mondi group (Vienna / Austria; www.mondigroup.com). “This acquisition is in line with our strategy to expand our customer base and to strengthen our position in highly specialised engineered materials,” said Walki’s president and CEO Leif Frilund.

Belcoat produces specialised extrusion-coated products for protective clothing, imaging, automotive and other speciality product segments. The company operates a manufacturing plant in Duffel / Belgium and employs more than 100 people. It generated turnover of EUR 37m in 2018.

The transaction is expected to close in the second half of 2019, subject to regulatory approval and other customary conditions. Financial terms were not disclosed.

Walki also signed a deal in May this year to buy Finnish film and packaging manufacturer Plastiroll – see Plasteurope.com of 28.05.2019.