Van Genechten Packaging International has agreed to acquire the packaging plant from Stora Enso, located in Komarom, Hungary. The site realises sales of Euro 14 million with less than 100 people and is specialised in the conception and production of microflute packaging. The acquisition is expected to be completed within 1 month.

Packaging

Van Genechten Packaging International to acquire Stora Enso's Hungarian microflute operations

Aug 31, 2015. /Lesprom Network/. Van Genechten Packaging International (VGPI) has agreed to acquire the packaging plant from Stora Enso, located in Komarom, Hungary. The site realises sales of Euro 14 million with less than 100 people and is specialised in the conception and production of microflute packaging, as the company says in the press release received by Lesprom Network.

“The acquisition widens our geographical footprint in Central Europe, with an excellent location just at the north of Budapest”, says Frederic de Somer, Managing Director of VGPI. “It is also complementary to our existing Microflute operations in Belgium, allowing us to become a leading player in this growing segment. The highly skilled people and state of the art equipment enables the Hungarian plant (built in 2008) to offer complex Microflute solutions to its customers. Our strong presence in Western and Central Europe will be to the benefit of our customers, both in terms of supply chain and in time to market”.

“By this acquisition we follow the demand of our multinational and regional customers who are strongly growing in Central and Eastern Europe, offering them our trusted high quality standards and our rewarded innovation capabilities. This represents the next step of VGPI’s long term growth strategy focusing on chosen markets and driving business with its preferred partners”, says Lorenzo Delorenzi, CEO of VGPI.

The acquisition is expected to be completed within 1 month.

VGPI is an independent industrial group with seat in Luxembourg. It consists of 11 folding carton factories in 8 countries, leading the European consumer goods industry with printed folding cartons, microflute and other packaging solutions.