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June 29, 2009 — Huhtamäki Oyj sells its EPS (Expanded Polystyrene) packaging business located in Albury, Australia to the Australian packaging company Pact Group Pty Ltd. The annual net sales of the unit is some EUR 7 million and it currently employs some 40 people. The agreed value for the transaction is EUR 5 million. The sold unit serves the local fresh foods packaging market.
"This transaction supports the execution of our strategic review of rigid plastic consumer goods operations", says Huhtamäki Oyj's CEO Jukka Moisio. "We will continue to review our remaining rigid plastic consumer goods operations in Europe and Australia."
Following the divestment, Huhtamaki has production at five sites in Australia. The sites in Bankstown, Wacol and Mulgrave serve the rigid plastic consumer goods market. Rigid paper and plastic packaging production in Windsor serving the local foodservice market and rough molded fiber packaging production in Preston continue to support Huhtamaki's strategic focus areas.
For further information, please contact:
Ms. Kia Aejmelaeus, Head of Investor Relations, Tel. +358 (0)10 686 7819
HUHTAMÄKI OYJ
Group Communications
Huhtamaki Group is a leading manufacturer of consumer and specialty packaging with 2008 net sales totaling EUR 2.3 billion. Foodservice and consumer goods markets are served by approximately 14,000 people in 61 manufacturing units and several sales offices in 34 countries. The parent company, Huhtamäki Oyj, has its head office in Espoo, Finland and is listed on the NASDAQ OMX Helsinki Ltd. Additional information is available at www.huhtamaki.com.
Source: WolrdPressOnline
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