Swedish packaging company AR Packaging has signed a strategic partnership to grow its cardboard carton business in Pakistan in collaboration with Packages Limited, which is based in the capital Lahore.
A&R Carton, which is part of the AR Packaging group, has agreed to cooperate with Packages Limited on the manufacture, sale and marketing of cardboard packaging.
AR Packaging’s CEO said that the agreement would help it to expand its presence outside Europe, while his counterpart at Packages Limited said that the deal ‘will allow us to better serve our customers’.
Harald Schulz, AR Packaging president and CEO, said: “In line with our strategy to expand our footprint outside of Europe, our partnership with Packages Limited will further strengthen our platform and benefit our global customer base.
Harald Schulz said the partnership would help AR Packaging expand outside Europe.
“After having been a founding partner of Packages Limited in 1956, we are very pleased to join forces with such an established company again to collaborate on new target markets.”
Packages Limited CEO Syed Hyder Ali said: “I am very pleased to announce this partnership agreement with AR Packaging, who helped in the setting up of Packages Limited in 1957. The partnership with AR Packaging will further strengthen our domestic market position and give us entry to the international markets. We will be able to leverage AR Packaging’s technology and know-how. This partnership will allow us to better serve our customers.”
According to AR Packaging’s annual report for 2015 – the last year for which figures are available – the Lund-based company reported pre-tax earnings of €62.5 million on sales of €514 million. It employs around 2,250 staff and operates 17 factories in nine different countries, employed in the production of cardboard packaging for ice cream, ready-prepared food and other food products.
It changed hands from one private investment company to another for a sum believed to be about €500 million in 2016.
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