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2007-03-19 News Release
Packaging group buys
majority interest in paper labels biz
Active in the corrugated board and flexible packaging segments this Packaging
Group acquires a major interest in a Romanian market leader for paper
labels.
Haendler & Natermann GmbH, Germany, a Constantia Packaging Group
subsidiary, acquired a 60% equity interest in Novis SRL based in Cluj-Napoca,
Romania, with an option to acquire the remaining 40% equity interest in
the future. The sellers of the shares are two individuals, one of whom
will continue to serve as the< company’s General Manager. This action
is effective March, 1, 2007 and terms were not disclosed.
Find Information and Suppliers of experimental
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Novis is the Romanian market leader for paper labels for the brewing and
soft drink industry. In 2006, the company generated sales of €5.5
million and had 76 employees at its Cluj-Napoca site. The plant’s
equipment and machinery are up to Western standards. Customers include
large multinational corporations such as SAB Miller, Heineken and InterBev.
Constantia manufactures packaging made from
aluminum, plastic and corrugated board for the food, beverage, pharmaceutical
and automobile industries, among others.
With this acquisition, the Beverages & Labels division of Constantia
Flexibles strengthens its production and distribution network by adding
a plant in a wellestablished Eastern European growth market. The transaction
also creates significant growth opportunities for Novis through technology
transfers and operating synergies.
This year, Novis plans to begin production of gravure printed wrap-around
labels, a rapidly growing segment in Europe, thereby adding to the Beverages
& Labels division’s already strong position.
In August of 2006, Constantia Packaging AG announced the start of due
diligence proceedings for the acquisition of a majority interest in Austria
Metall AG of which it owns a 25% plus one share equity interest already.
The acquisition of Romania-based Novis is consistent with Constantia Packaging’s
strategy of targeted expansion into Eastern and Southeastern Europe and
of consolidating privately owned and operated companies into its distribution
and production network.
Find information about Constantia
Packaging AG.
Read a recent press release about - A leading plastics solutions supplier
introduces a new copolymer grade for high transparent polypropylene
blown films used in food packaging.
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