Schimatari, Greece 18 December 2015 -- Dunapack Packaging Division, which is part of the Austrian Prinzhorn Holding, has signed an agreement to take over the Greek packaging producer Viokyt Packaging S.A. This well-established family business with headquarters in Schimatari, about 60 kilometers north of Athens, has a production capacity of 50 million m2 of corrugated packaging per year. The takeover is still pending on approval by relevant antitrust authorities. The parties have agreed not to disclose any details of the purchasing price of the acquisition.

Viokyt Packaging S.A. is specialized in the production of printed corrugated packaging and has been among the largest packaging manufacturers in Greece for over 40 years. With its integrated digital print technology the company has taken up a prominent position in the high-quality printed display market. In the course of the takeover, Prinzhorn Holding has also acquired the business premises with an area of about 50,000 m2. Following the takeover, further expansion and modernization of the manufacturing facilities are being planned. Upgrading the manufacturing site in Schimatari with a new 2.5-meter corrugator will increase the production capacity by the threefold to approximately 160 million m2 annually.