Katariina Hietaranta, head of group communications, told FoodProductionDaily.com the Finland-based firm was happy to have finished the review that had seen it off-load most of its rigid plastics business around the world.
Huhtamaki announced in 2008 that it would be reviewing its rigid plastics operations because returns were modest and it did not believe it could become a market leader in the sector. Divestments of plants and businesses in Australia, Asia, South America and Europe followed over the following three years.
The communications chief agreed that the conclusion of the strategy was a “weight off the shoulders” of Huhtamaki - with new structure and buoyed financial figures meaning the firm could now concentrate on growth.
The company rounded off the review by confirming yesterday that it would be keeping its Italian rigid plastics unit – with operations set to continue in Turin, Parma and Buccino.
The division, with annual net sales of €50m, would be integrated into the Foodservice Europe-Asia-Oceania segment from 1 January, 2012.
“After reviewing the operations in Italy we decided that keeping it was the best option,” she added.
Responding to a question that the company had kept the division because they couldn’t find a buyer at a satisfactory price, Hietaranta said: “We could have sold the business but could not do so in a way that was seen as a good option.”
Focussing on growth
The communications chief said the firm was now aiming for growth across all its five segments and that the stripping down of the rigid plastics division had left it in a better position to do this.
“We are a more solid financial firm and have the financial means to grow that we did not have before,” she added. “We have shifted our focus to growth and are looking for organic growth and screening acquisitions in both emerging and mature markets.”
Flexible plastics were being seen as engine for growth – particularly in emerging markets, said Hietaranta.
“In these markets societies and industry are developing in terms of widening retail sectors and greater package food demand. Flexible packaging may be favoured over glass for its lightweighting and sustainability features,” she added.