Wednesday, April 1, 2015 12:30 pm

Huhtamaki has completed the acquisition of Butterworth Paper Cups Sdn Bhd, a privately owned paper cup and foodservice packaging manufacturer in Malaysia.

The company said that with the acquisition, Huhtamaki expands its foodservice manufacturing footprint to Southeast Asia and significantly strengthens its presence and capability to serve customers in Malaysia, Singapore and other regional Southeast Asian markets.

The purchase price of approximately EUR 8 million approximately corresponds with the annual net sales of the business. The company employs approximately 120 people in its manufacturing unit in Penang, Malaysia. The business will be consolidated into the Foodservice Europe-Asia-Oceania business segment as of 1 April 2015.