Austria-based plastic packaging firm Alpla has acquired the remaining 51% stake in its Middle East joint venture (JV), Zamil Alpla, for an undisclosed sum.
Alpla established the JV in partnership with Zamil Plastic and opened a manufacturing facility in Dammam in 2007. Alpla held a 49% stake in the JV.
As part of the deal, the Austrian company now owns a 100% stake in the JV. The deal to buy the remaining stake was signed in December.
The company has expanded the JV by opening two facilities in Jeddah and Dubai and a second location in Dammam.
The JV currently employs 360 associates and produces packaging solutions. This includes preforms and packaging made from HDPE and PET for home care, beverage, food, oil and lubricants and beauty care markets. It also focuses on extrusion and stretch blow moulding technologies.
As the transaction is complete, Alpla will continue to operate the JV under its banner and will keep all employees.
Alpla currently employs 19,300 employees globally to produce custom-made packaging systems, bottles, closures and moulded parts at 176 sites across 45 countries.
In October, the Austrian packaging solutions firm completed the acquisition of all shares in Greek plastic packaging manufacturer Argo.
The deal expanded the presence of Alpla in the Central and Eastern Europe (CEE) region and offered 100% ownership of Argo’s facilities in Greece and Romania.