Packaging firm Alpla Holding intends to expand into the African market by acquiring an Egyptian production site from Argo.
Financial details of the acquisition have not been disclosed.
The deal is expected to be completed by the end of this year.
A developer for rigid packaging solutions, Argo uses an extensive range of processing technologies and polymer grades for its production processes.
The firm is based in Athens, Greece, and delivers a wide range of products, including plastic closures, droppers, vials, bottles, canisters, tubes and dosing systems for demanding applications and diverse markets.
Its production site, which will be taken over by Alpla, is located at around 30km north-east of central Cairo.
Alpla CEO Günther Lehner said: "The acquisition of this branch is a second important step to further expand our presence in Africa."
The first African centre for the company was set up last year in Johannesburg, South Africa, which is mainly used to develop packaging for home care and cosmetic items.
Argo recently upgraded its portfolio for healthcare packaging solutions by introducing a new series of Jars M38 PET jars.
The container features a snap-on, tear-off band cap, is useful for storing tablets, and comes in 100ml and 150ml variants.