Ceepackaging

RSS Feed

Online features

Latest magazine

Latest edition cover

Corporate

Constantia finalise acquisition

By NEWS SYSTEM
Published: October 2nd, 2007
Related tags: ,

Since May 2004, Constantia Packaging AG, Vienna, has owned a 25% plus 1 share equity interest in Austria Metall AG(AMAG), Ranshofen. Since August 2006, Constantia Packaging AG has been in negotiations with Klaus Hammerer GmbH to acquire its 40% stake in AMAG and thereby gain a majority interest.

Today marked the closing of the July 6, 2007 share purchase agreement with Klaus
Hammerer GmbH and the ownership transfer of the shares, after all necessary
authorizations from the competition authorities had been obtained. The closing of the
share purchase agreement with the AMAG employee trust is expected in the next 10
days.
AMAG’s ownership structure will then break down as follows: Constantia Packaging
AG will hold 73.45%, Constantia Packaging B.V., Netherlands 16.55% and the AMAG
employee trust 10% of the shares.
AMAG is Austria’s leading manufacturer of cast and semi-finished aluminum products
for the processing industry. In 2006, the company (excluding the extrusion business)
had sales of approximately €830 million and some 1,300 employees.
Constantia Packaging Group now has activities in the Flexible Packaging, Corrugated
Board and Aluminum segments. With approximately 8,500 employees (including
AMAG) in 19 countries in Europe, Asia and North America, the Group manufactures
aluminum, plastic and corrugated board packaging for the food, beverage,
pharmaceutical and automotive industries, among others. Projected sales in 2008
(including AMAG) will exceed €2 billion.

Popular Tags

    No comments in this section yet

Partners