2008-04-25 Manufacturing News

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Ad hoc - Duropack packaging unit becomes largest shareholder in Belisce Group

Corrugated board packaging provider Duropack becomes the single largest shareholder in the Belisce Group, a raw material supplier of corrugated board base paper materials.

Duropack AG, part of the Constantia Packaging AG Group, acquired a 20% equity investment in in Croatia-based Belisce d.d. as part of a block sale by the International Finance Corporation (IFC), a member of the World Bank and long-time financial partner of the Croatian company. Duropack is now the single largest shareholder in the Belisce Group.

In 2007, the Belisce Group recorded sales of €172 million and had more than 3,300 employees. With annual output of more than 220,000 metric tons of corrugated board base paper, the company is the largest and most important supplier of this raw material in the Balkans as well as one of the most well-known corrugated board manufacturers in the region.

With 10 production facilities manufacturing all types of corrugated board packaging in this growth region, Duropack is a leading provider and supplier to many multinational companies. With approximately 2,500 employees, Duropack recorded sales of €328 million in 2007 and is majority-owned by Constantia Packaging AG.

The Constantia Packaging Group's activities include the Aluminum, Corrugated Board and Flexible Packaging segments. Approximately 8,400 employees working in 20 countries in Europe, Asia and America produce primary aluminum, semi-finished aluminum products, polymer packaging and corrugated board for the food, beverage, pharmaceutical, automotive and aerospace industries, among others. The Group is forecasting 2008 sales of more than €2 billion.

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