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Management Side
Huhtamaki Completed the Acquisition of FIOMO
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Espoo, Finland 29 January 2016 -- Huhtamaki has completed the acquisition of FIOMO, a.s., a manufacturer of flexible packaging foils and labels in the Czech Republic. With the acquisition Huhtamaki expands its flexible packaging manufacturing footprint in Europe and is able to offer agile high quality off-set printing capabilities for smaller production runs for its customers.

The annual net sales of the acquired business in 2014 were approximately EUR 21 million and it employs approximately 120 people in its manufacturing unit in the Prague area. The debt-free purchase price was approximately EUR 28 million. The business will be consolidated into the Flexible Packaging business segment as of February 1, 2016.

Huhtamaki is a global specialist in packaging for food and drink. With our network of 69 manufacturing units and 23 sales offices in 34 countries, we're well placed to support our customers' growth wherever they operate. Mastering three distinctive packaging technologies, approximately 16,700 employees develop and make packaging that helps great products reach more people, more easily. In 2014 our net sales totaled EUR 2.2 billion. The Group has its head office in Espoo, Finland and the parent company Huhtamäki Oyj is listed on Nasdaq Helsinki Ltd. Additional information is available at www.huhtamaki.com.

 

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