Van Genechten acquires remaining 50 % stake at JSC VG Kvadra Pak AS

Jul 19, 2012. /Lesprom Network/. Van Genechten has acquired the remaining 50% of JSC VG Kvadra Pak shares, the leading packaging company in the Baltics, located in Riga. Thus, Van Genechten now owns 100% of the shares, as the company said in the press release received by Lesprom Network. VG Kvadra Pak will continue to focus on innovative packaging with excellent quality and service. The full integration into the Van Genechten Packaging Group will further strengthen the competitiveness of the company and give access to international customers. Additional investments have already been approved to enhance this. Kvadra Pak was founded in 1993 in Riga and became one of the leading folding carton packaging producers in the Baltic countries with the forecasted annual turnover for 2012 of more than Euro 11 million, 125 employees and 5,000 tons of converted cardboard. Further growth of the company is expected. The company is specialized in innovative, value added, tailor-made and cost effective carton packaging for the food and non-food industry. More than 70% of products are sold to customers in Finland, Sweden, Norway, Denmark, Lithuania, Estonia, Poland, Russia, Belarus, Ukraine, Kazakhstan, Azerbaijan, Hungary and United Kingdom, the other 30% to local customers. VG Kvadra Pak is BRC, ISO, FSC and PEFC certified. Van Genechten Packaging is a group comprising of 10 folding carton factories in 7 countries, serving the European consumer goods industry with cardboard boxes, micro flute packaging and packaging systems. Other activities of the group are Automation and Extrusion, which offer customized solutions for packaging machines and a broad range of barrier laminations both for the open market as well as for the group.