Greiner Packaging Serbia has acquired the beverage cup production arm of a Serbian dairy producer‚ 'strengthening their market position in Europe'.
State-owned firm Hipol was partially privatised and Greiner was awarded the contract to acquire its cup production sector last month.
Willi Eibner, CEO of Greiner Packaging International, said that based on this acquisition, the firm were 'continuing to enhance their strong marketing position in Southeast Europe'.
“We are taking over a sector with 60 employees plus the technical equipment for extrusion, thermoforming, printing and injection molding. Within the next three years we plan to increase our workforce in Odzaci to 150 employees.“
Food and dairy
Hipol manufactures cups for the food and dairy industry made from polystyrene, polylactic acid (PLA) and polyethylene terephthalate (PET).
Greiner Packaging made the move to 'further enhance its role as market leader in the rigid plastic sector in Southeast Europe', the firm added.
In 2011, the company made an investment in its Slovenia facility to upgrade equipment for the production of K3 packaging.
Eibner added: “Our strengths in Slovenia, our existing Serbian location in Nova Pazova, and our participation in Hipol are an ideal complementary combination.
"This creates synergies resulting in even more intensive and successful operations in regions with emerging markets.“
Since market entry in 2004, Greiner has increased its annual turnover in the region to more than €20m, including revenue from Hipol.
Last year, Greiner Packaging International, which operates 32 sites, had annual sales of €446.6m, more than one third of the total Greiner Group sales.