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March 4, 2020

Coveris acquires Hungarian packaging firm Plasztik-Tranzit

European packaging company Coveris has acquired Hungarian flexible packaging firm Plasztik-Tranzit.

European packaging company Coveris has acquired Hungarian flexible packaging firm Plasztik-Tranzit.

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The financial terms of the acquisition were not divulged.

Plasztik-Tranzit was founded in 1985 and offers in-house capabilities, including extrusion, flexible printing, lamination, and converting across Hungarian and neighbouring markets.

The company serves food, chemical, pharmacy and pet food packaging industries among others.

As agreed, Plasztik-Tranzit will be renamed Coveris Pirtó.

With this acquisition, Coveris will expand into the Central and Eastern European (CEE) market with plans to develop a high-tech packaging production hub in Eastern Europe.

The move will also bolster its capabilities to serve the medical, food and films businesses.

Coveris will leverage Plasztik-Tranzit’s technology to provide extrusion, flexo printing, lamination and converting services to the CEE market.

Coveris CEO Jakob A Mosser said: “We are delighted that after a two-year search we have now found the perfect CEE hub that will serve all our three business units.

“The existing modern technology and the strong focus on high-end converted products are very impressive. We are confident to grow the company within a couple of years to the current average size of Coveris’ sites that is about €50m.”

Headquartered in Austria, Coveris delivers flexible and sustainable packaging solutions. The company operates 25 sites in the EMEA region.

In August last year, the company acquired a 100% stake in UK-based Amberley Adhesive Labels to strengthen its labels business.

Last month, Coveris announced plans to make new investments in the Austrian plant to boost its capacity.

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For the packaging industry to achieve a sustainable future, it needs to dramatically increase circularity and the reuse of materials. While shifting from a linear economy to a circular model will take time, there are already actions that brands, manufacturers, and converters can already take to help make a difference. This document by Siegwerk – a global leader in inks and coatings for packaging – delves into solving the plastic paradox, looks at the relevance of bioplastics, and sets out ways to not only achieve circularity in packaging but also make it economically viable. Furthermore, the document goes into detail on how printing inks and coatings are vital for enabling circularity in packaging. Ultimately, the packaging system needs to be reconfigured for a circular future. And consumers are expecting the packaging industry to play its part in progress. To take the first step towards circularity, download this document.
by Siegwerk
Enter your details here to receive your free Whitepaper.

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