Austrian plastic packaging firm Alpla Holding is to expand its market position in Africa by acquiring a production site in Egypt from Argo.
The acquisition is scheduled to take place at the end of this year whose financial terms are not disclosed.
Located 30km north-east of central Cairo, the site currently employs close to 50 people.
Alpla CEO Günther Lehner said: "The acquisition of this branch is a second important step to further expand our presence in Africa."
The company opened its first site in Johannesburg, South Africa last year. The Johannesburg site primarily produces packaging for home care and cosmetic items.
Based in Athens, Argo has branches in Greece, Romania and, since 2011, in Egypt.
Argo, founded in 1970, employs a wide range of processing technologies and polymer grades to produce rigid packaging. It offers a wide range of products including plastic closures, droppers, vials, bottles ,canisters, tubes, dosing systems for demanding applications and diverse markets.
Argo recently expanded its healthcare packaging solutions with the launch of new series of PET Jars.
The new Jars M38 with a snap on, tear off band cap are available in 100ml and 150ml formats. These jars can be used to packing tablets.
With nearly 16,000 employees, Alpla operates 154 production plants in 40 countries where it produces packaging for brands in the food, drinks, cosmetics and cleaning industries.
Alpla's products include packaging systems, bottles, caps and injection-moulded parts, preforms, tubes.