Huhtamaki sells Australian polystyrene packing firm
The Finnish company said it had sold its EPS subsidiary in Albury to Australian outfit Pact Group Pty Ltd for €5m. Annual net sales for the company, which employs 40 and makes packing for fresh foods, were said to be €7m.
"This transaction supports the execution of our strategic review of rigid plastic consumer goods operations”, said Huhtamaki Oyj’s CEO Jukka Moisio. “We will continue to review our remaining rigid plastic consumer goods operations in Europe and Australia.”
Last year, the company announced it would seek to shed its operations in this segment because of underperformance.
A Huhtamaki spokesperson told FoodProductionDaily.com that its three remaining rigid plastic consumer goods plants in Australian were also under review with divestment as one possible option. Its rigid paper and plastic packaging production plant in Windsor that serves the local foodservice market and rough molded fiber packaging production in Preston “continue to support Huhtamaki’s strategic focus areas” said a company statement.