Flint completes Torda buy as CEE expansion continues
Torda is a leading producer of printing inks for the packing sector in Northern Europe, he Balkans and the Middle East with a substantial presence in Eastern Europe. Last year the Swedish outfit generated revenues reaching €23m. No financial details were released.
“This acquisition was the third step of Flint Group to foster its expansion in Eastern European markets within twelve months,” Jens Zimmermann Flint global Marketing and business development director told FoodProductionDaily.com.
In 2009, the company took over the Russian packaging ink manufacturer and distributor Premo Inks. At the start of this year, it further announced the expansion of its packaging inks manufacturing operations in Poland to meet increased demand.
Zimmermann added: “Torda has manufacturing and fully equipped laboratories in Dubai and Serbia and adding these facilities to the Flint Group service and production network will increase our presence especially in the Middle East and the Balkans.”
As well as its geographical reach, Flint said Torda’s business profile had also been a factor in pursuing the purchase. The firm strong emphasis on the food industry – especially its aseptic beverage packaging range – “add perfectly to Flint Group’s existing product range”, said Zimmermann.
Flint said it had plans to develop the “significant potential” within the company’s packaging inks division by leveraging Torda’s product strengths.
“In addition we will use the complementary distribution channels and network of Torda to promote Flint Group’s products in key growth markets,” added Zimmermann.
Flint Group was created by the union of XSYS Print Solutions and Flint Ink Corporation in late 2005. Flint Ink was founded in the US in 1920. Its 2008 revenues were € 2.4 billion (US$ 3.5 billion) and the company has about 7,300 employees worldwide.