Huhtamaki divests EPS packaging business in Australia

30-Jun-09
Consumer and specialty packaging company Huhtamäki Oyj (Finland) has divested its EPS (Expanded Polystyrene) packaging business located in Albury, Australia to the Australian packaging company Pact Group Pty Ltd. for EUR 5 mln. The annual net sales of the unit is some EUR 7 mln and it currently employs some 40 people. The sold unit serves the local fresh foods packaging market. Following the divestment, Huhtamaki has production at five sites in Australia. The sites in Bankstown, Wacol and Mulgrave serve the rigid plastic consumer goods market. Rigid paper and plastic packaging production in Windsor serving the local foodservice market and rough molded fiber packaging production in Preston continue to support Huhtamaki's strategic focus areas. "This transaction supports the execution of our strategic review of rigid plastic consumer goods operations", says Huhtamäki Oyj's CEO Jukka Moisio. "We will continue to review our remaining rigid plastic consumer goods operations in Europe and Australia."
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