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Corporate
Flexible business sold
Klöckner Pentaplast Group, a global leader of film products, today announced that it has reached agreement for the sale of its flexible film business with Wipak, the packaging division of Finland-based Wihuri Group, subject to final due-diligence process and anti-trust clearance.The following production sites are affected by this agreement:
• Betzigau, Germany
• Avanspack, Finland and Nordpak, Finland
“The flexible film divestiture is a relatively small share (3%) of total Klöckner Pentaplast Group turnover. Our divestitures will enable us to focus even more on our core growth portfolio in the future”, says Joachim Kreuzburg, President and COO/Europe & Asia. “The flexible films segment can now be better developed in an environment where it is part of the core business.”
