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| Constantia Duropack becomes the single largest shareholder in Croatia-based Belisce d.d. |
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Duropack AG acquired a 20% equity investment in Belisce d.d. as part of a block sale
by the International Finance Corporation (IFC), a member of the World Bank and longtime
financial partner of the Croatian company.
Following this acquisition Constantia Duropack has become the single largest
shareholder in Belisce d.d.
In 2007, the Belisce Group recorded sales of €172 million and had more than 3,300
employees. With annual output of more than 220,000 metric tons of corrugated board
base paper, the company is the largest and most important supplier of this raw material
in the Balkans as well as one of the most well-known corrugated board manufacturers in
the region.
“Constantia Duropacks stake in the Belisce Group underscores the successful longterm
cooperation between the two Groups and should also further secure it for the
future,” added Vlado Jerbic, the CEO of the Belisce Group.
“Belisce has been one of Constantia Duropack’s leading suppliers for many years. With
this investment, the Duropack Group secures its supply of raw materials for its
production sites in Austria, Germany, the Czech Republic, Slovakia, Hungary, Slovenia,
Serbia and Bulgaria,” said Peter Szivacsek, the CEO of Constantia Duropack.
With ten production facilities manufacturing all types of corrugated board packaging in
this growth region, Duropack is a leading provider and supplier to many multinational
companies. With approximately 2,500 employees, Duropack recorded sales of €328
million in 2007 and is majority-owned by Constantia Packaging AG.
The Constantia Packaging Group’s activities include the Aluminum, Corrugated Board
and Flexible Packaging segments. Approximately 8,400 employees working in 20
countries in Europe, Asia and North America produce primary aluminum, semi-finished
aluminum products, polymer packaging and corrugated board for the food, beverage,
pharmaceutical, automotive and aerospace industries, among others. The Group is
forecasting 2008 sales of more than €2 billion.
For more information:
Constantia Duropack
Peter Szivacsek
Chief Executive Officer
Duropack AG
Brunnerstraße 75, A-1230 Vienna
Tel: +43 (01) 86 300-280
Web site: www.duropack.eu
Constantia Packaging
Veronika Zügel
Head of Communications
Martin Schneeweiss
Head of Investor Relations
Constantia Packaging AG
Opernring 17, A-1010 Vienna
Tel.: +43 (01) 588 55-330
Fax: +43 (01) 588 55-9330
E-Mail: ir@constantia-packaging.com
Web site: www.constantia-packaging.com
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Source: Constantia Packaging AG; 20080428 |
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© VCP AG 2010
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