Austrian packaging supplier Constantia Flexibles has signed a deal to purchase a majority stake in Russian packaging firm TT-print.
Announced in January, the deal is part of the company’s strategy to strengthen its pharmaceutical division.
TT-print founder Ruslan Chuev said: “The reasons for TT-print’s growth the last 20 years has been the dedication and professionalism of the local team, our carefully selected suppliers, as well as our commitment to stay ahead of industry standards and continually improve our technological solutions.
“The acquisition is just a logical step towards an equally successful future.”
The company recently completed the construction and validation of cleanroom facilities through an initiative started by Ruslan Chuev to achieve classification D of the Good Manufacturing Practice (GMP) standard at the EU level.
To achieve the standard, the company demonstrated key operational steps, including goods handling, slitting of raw materials and printing, using various packaging solutions for pharmaceutical products in a clean area.
Constantia Flexibles pharmaceutical executive vice-president Pierre-Henri Bruchon said: “By implementing this concept for Constantia TT, we have become pioneers in the Russian market.
“Together with the long-term experience in the field of flexible packaging, our dedication to clean and stable production conditions makes us the perfect partner to pharmaceutical producers in Russia, as well as in Kazakhstan and Uzbekistan, who aim to protect their life-saving products.”
Constantia Flexibles offers a range of sustainable packaging solutions to various international and local companies across the consumer goods and pharmaceutical industries.
The company currently operates two production facilities in Russia, including Constantia TT and Constantia Kuban.
Constantia TT employs more than 100 associates to offer flexible packaging solutions, including printed blister foil, sachet and cold form material for the pharmaceutical industry, while Constantia Kuban offers packaging materials for the food and dairy industries.
TT-print develops packaging solutions such as printed aluminium blister foil and cold form for the pharmaceutical industry at its production facility in Voskresensk.
In May 2018, Constantia Flexibles acquired a majority interest in India-based Creative Polypack.