Huhtamaki adds manufacturing capacity in India to speed up growth
September 30, 2019
INDIA (News release) -- Huhtamaki has agreed to acquire the assets and operations of Mohan Mutha Polytech Private Limited (MMPPL), a privately-owned flexible packaging manufacturer located in Sri City, Andhra Pradesh, India. The acquisition allows Huhtamaki to speed up its growth in India by improving its capability to serve the customers in South India.
MMPPL has approximately 160 employees and its net sales in 2018 were approximately EUR 9 million. The business will be consolidated into the Group's flexible packaging business in India. The debt-free purchase price is approximately EUR 10 million. The transaction is expected to be closed by the end of 2019.
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