DENMARK: Danisco Flexible to be sold to new European market leader in flexible packaging
Danisco has today announced that it has agreed to merge its Flexible Packaging Division with the European flexible packaging activities of Amcor Ltd. (Amcor) and of AB Åkerlund & Rausing, part of A. Ahlstrom Corporation (Ahlstrom). The Joint Venture, which is subject to the approval of the European Union and other required regulatory approvals, will create the largest producer of flexible packaging in Europe, with estimated sales of EUR 1,100 million (DKK 8,000 million). The strategy is to derive substantial synergy benefits, particularly in the areas of greater plant focus, improved raw material purchasing, re-structured corporate and sales organisations and increased leverage from R&D spending.
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