Jukka Moisio, CEO of Huhtamäki Oyj, said: “I am extremely pleased to announce this acquisition. It further strengthens our leading position in the fast growing Asian markets, particularly in China. Many of our global customers are investing heavily to grow in China, and now we are better resourced to help them grow.”
Josco is a privately owned paper and plastic disposable packaging products company in China and Hong Kong. The company has also significant exports to Europe, the US and Australia. The company’s net sales in 2011 were approximately €70m and it employs approximately 1,350 people.
The company is located in China with two manufacturing units (Guangzhou and Shandong) and two distribution centres (Shanghai and Beijing). It also has sales operations in Hong Kong. Huhtamaki will acquire Josco for a debt free purchase price of €67m.
Source: Huhtamäki Oyj
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