Constantia Flexibles to acquire majority stake in Russian packaging firm TT-print
24 January 2019
Flexible packaging firm Constantia Flexibles has agreed to purchase a majority stake in Russia-based packaging firm TT-print for an undisclosed sum.
Founded in 1999, TT-print manages production facility in Voskresens to manufacture packaging solutions for the pharma and food industry.
With around 100 employees, the company produces products such as printed aluminum blister foil and coldform for the customers in the pharma industry.
The acquired facility is Constantia’s second plant in Russia, while the other facility is Constantia Kuban in Timashevsk.
Constantia Flexibles is focusing on expanding its marketing operations, specifically in the pharma industry in Russia and neighbouring countries.
The deal is expected to be completed in the first quarter of this year.
Constantia Flexibles CEO Alexander Baumgartner said: “With this acquisition we will be taking a leading position in the Russian pharma packaging industry. It requires local presence to serve the rapidly growing Russian packaging market.”
In August 2018, Constantia Flexibles acquired majority interest in Indian flexible packaging firm Creative Polypack.