Huhtamaki Oyj acquires a label manufacturer in India
Huhtamäki Oyj's subsidiary in India has acquired 51% of the shares in privately held Webtech Labels Private Limited for a debt free purchase price of approximately EUR 7 million.
Webtech Labels Private Limited is specialized in manufacturing high-end pressure sensitive labels, especially to pharmaceutical customers. The annual net sales of the company are approximately EUR 10 million. The acquisition complements the Flexible Packaging segment's existing product portfolio.
"We continue to implement our growth strategy, and we are pleased to add this expertise to our offering in a fast-growing market such as India," says Jukka Moisio, CEO of Huhtamäki Oyj.
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Source: Unipack.Ru
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