Hungarian Kartonpack, Britton Capital & Consulting Buy 12 Pct in Pannonplast
Hungarian packaging materials manufacturer Kartonpack Dobozipari Rt and its owner, Britton Capital & Consulting Kft, bought a 12 pct stake in Hungarian plastics maker Pannonplast on March 10, 2003, it was reported on March 11, 2003.
Hungarian packaging materials manufacturer Kartonpack Dobozipari Rt and its owner, Britton Capital & Consulting Kft, bought a 12 pct stake in Hungarian plastics maker Pannonplast on March 10, 2003, it was reported on March 11, 2003.
After the purchase, the U.S. parent company of Britton Capital & Consulting Kft, Britton Interinvest, became the majority owner of Pannonplast. Britton Capital & Consulting as well as the other main shareholder in Pannonplast, Hungarian businessman Bela Karsai, are not satisfied with the Pannonplast's business strategy and insist on the diversification of production and of clients. Britton Capital & Consulting will propose an alternative business strategy at Pannonplast's annual shareholders' meting, which will be held in May 2003. Due to the similarity of views of both majority owners, analysts expect changes in the company's management.