Packaging group buys majority interest in paper labels biz

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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.

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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.

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