Coveris has aquired Plasztik-Tranzit, a Hungarian producer of flexo packaging, for an undisclosed sum. As part of the acquisition, Plasztik-Tranzit is to be renamed Coveris Pirtó.
Founded in 1985, Plasztik-Tranzit offers inhouse capabilities including extrusion, flexo printing, lamination and converting in both Hungary and neighbouring markets.
The acquisition is part of Coveris’ growth strategy that aims to create a hub for high-tech packaging production in Eastern Europe, alongside growing its capacity in the medical, food and films businesses. It will now be able to offer high quality extrusion, flexo printing, lamination and converting services to the Central and Eastern European markets.
‘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,’ said Coveris CEO Jakob A. Mosser. ‘The existing modern technology and the strong focus on high end converted products is 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.’
