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Corporate
Croatian company changes hands
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 long-time financial partner of the Croatian company. Duropack is now the single largest shareholder in the Belisce Group.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.
With 10 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.
