The acquisition of Plasztik-Tranzit is part of Coveris' growth strategy to create a hub for high-tech packaging production in Eastern Europe, alongside growing its capacity in the medical, food and films businesses.
Plasztik-Tranzit technology will allow Coveris to offer extrusion, flexo printing, lamination and converting services to the Central and Eastern European market.
It is the second acquisition of Coveris within the past six months, following Amberley Adhesive Labels in the UK in July, to strengthen its Labels & Board business.
"We are delighted after a two-year search we have now found the perfect CEE (Central and Eastern Europe) hub that will serve all our three business units,” said Jakob A. Mosser, CEO, Coveris.
“The existing technology and strong focus on high end converted products is impressive. We are confident to grow the company within a couple of years to the current average size of Coveris' sites that is about €50m."
Coveris develops packaging that protects all types of products from food to agricultural products. It operates 25 sites in the EMEA region with 4,200 employees. Coveris Group is headquartered in Vienna, Austria.