Frantschach acquires majority stake in Neoplex
flexible packaging for deep-frozen foods, bread and poultry
products - has acquired a majority stake in Danish packaging
company Neoplex.
Austrian company Frantschach, a market leader in northern Europe in flexible packaging for deep-frozen foods, bread and poultry products - has acquired a majority stake in Danish packaging company Neoplex.
Frantschach says that with the inclusion of Neoplex's Flexibles and Release division it can now make a bigger impression on the Northern European flexible packaging market.
Frantschach is continuing to implement its growth strategy in 2003, with the purchase of 50.5 per cent of the Danish family-run company Neoplex. The Danish company is currently one of the leading producers of flexible packaging, laminates, packaging films and carrier bags in northern Europe.
Frantschach CEO Veit Sorger said of the acquisition: "With the purchase of Neoplex in Denmark we are moving the Flexibles & Release division of Frantschach into a leading market position in northern Europe and in conjunction with Wheatley in England we can now offer flexible packaging solutions for frozen foods throughout Europe."
With its 180 employees Neoplex develops, produces and sells flexible packaging especially for frozen foods and bakery products, laminates, packaging films and plastic carrier bags. In the Danish domestic market Neoplex is the market leader for high quality carrier bags. The company has a turnover of €34 million.As a supplier to the frozen food industry, Neoplex specialises in areas with high growth rates and is responsible for two recent product innovations on the European market. The development of NeoCrisp makes it possible to warm up deep-frozen foods in the microwave in such a way that they stay crisp. With NeoSteam, a solution patented in Japan and sold by Neoplex, frozen foods can be steam cooked in the microwave.
The company's head office is in Nyborg, Denmark.
Frantschach is a 70 per cent subsidiary of Mondi Europe with a turnover of approximately €1.9 billion and a total of 8,500 employees. At more than 66 sites in 30 countries, it produces pulp, sack paper, paper sacks, coated materials and flexible packaging.
