Coveris Enters CEE Market With Acquisition of Plasztik-Tranzit Kft
VIENNA, March 3, 2020 /PRNewswire/ -- Coveris today announces the successful acquisition of Plasztik-Tranzit Kft, a specialist in high-quality flexible packaging solutions for the food industry, for an undisclosed sum. As part of the acquisition, Plasztik-Tranzit Kft is to be renamed Coveris Pirtó.
Founded in 1985, Plasztik-Tranzit Kft has become one of the leading flexo printing packaging producers in Hungary. The company offers modern inhouse capabilities including extrusion, state-of-the-art flexo printing, lamination and converting in both Hungary and neighbouring markets.
The acquisition of Plasztik-Tranzit Kft is part of Coveris' new growth strategy that aims to create a hub for high-tech packaging production in Eastern Europe, alongside growing its capacity in the medical, food and films businesses. Plasztik-Tranzit Kft's state of the art technology will allow Coveris to offer high quality extrusion, flexo printing, lamination and converting services to the Central and Eastern European market. This is the second acquisition of Coveris within the past six months, during which period Coveris also strongly increased and modernized capacity throughout its existing network
Jakob A. Mosser, CEO of Coveris, said. "We are delighted that after a two-year search we have now found the perfect CEE hub that will serve all our three Business units. The existing modern technology and the strong focus on high end converted products is very impressive. We are confident to grow the company within a couple of years to the current average size of Coveris' sites that is about m€ 50."
ABOUT COVERIS
Coveris is a leading European packaging company that manufactures flexible packaging solutions for some of the world's most respected brands. We develop packaging that protects all types of products - from food to pet food, from medical devices to industrial and agricultural products. Through our broad level of technical expertise, our high-quality packaging extends the shelf life of products hence helping to reduce waste and resource wastage. Together with our customers we are constantly working on new attractive and sustainable packaging solutions. Coveris operates 25 sites in the EMEA region with 4,200 employees. Coveris Group is headquartered in Vienna, Austria.
ABOUT PLASZTIK-TRANZIT KFT
Plasztik-Tranzit Kft was founded 30 years ago and became one of the leading flexo printing packaging producers in Hungary. With inhouse extrusion, flexo printing, lamination and conversion capabilities Plasztik-Tranzit Kft offers solutions to complex demands and delivers high quality service, mainly for the food industry.
http://www.plasztik-tranzit.hu/en/
SOURCE Coveris Management GmbH
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