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Article: Alcan Inc. to buy VAW Packaging.
- Article from:
- PR Newswire
- Article date:
- November 22, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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-- Montreal - Alcan Inc. today announced that it has reached a non-binding agreement in principle with Norsk Hydro to purchase VAW Packaging (FlexPac) for approximately 345 million Euro. The proposed acquisition adds good value and represents an excellent platform for profitable growth. It would significantly enhance Alcan's global position in packaging, expanding its footprint technologically and regionally, particularly in the developing markets of Asia. Alcan would have world-class flexible packaging operations in Europe, Asia and the Americas.
FlexPac, which includes 14 plants in 8 countries and 5,400 employees, posted consolidated sales of 637 million Euro ...