News Column

Italy : ITALYS Airpack has purchased European operations

May 5, 2014

The future of the European operations of US protective packaging producer Pregis has been determined. After the group s North American activities were purchased by private equity fund Olympus Partners (Stamford, Connecticut; at the end of April, the European business is at present in the hands of Italian protective packaging producer Airpack (Lodi). Financial particulars were not revealed.

The Italian group, which concentrates in bubble and foam packaging, in 2012 acquired Pregis Italian operations, and considers the newest deal which includes operations in the UK, Belgium, Germany, Romania, Poland, the Czech Republic and Hungary as part of its strategy to raise its European footprint. The plants purchased involved in foam and bubble extrusion as well as the production of engineered foam and mailers.

Airpack managing director Sergio Folli said, We are pleased to be able to reunite the Italian business unit with the rest of the European operations. We now will have the support of more than 1,000 employees who will assist us in providing protective packaging solutions to the United Kingdom and across the entire European continent.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters