UPM Raflatac is to acquire Gumtac, the Brazilian labelstock coating and slitting business of BIC Group. Gumtac is located in Rio de Janeiro and employs approximately 35 people. The closing of the acquisition is subject to obtaining appropriate licenses from local authorities.
‘UPM Raflatac has in recent years developed a widely recognized brand in Brazil. Through our distribution terminal in Jaguariuna, Sao Paulo, we have served key customers in this rapidly growing market. Gumtac’s well-managed operation will give us an excellent platform to extend our product offering and further support our customers’ growth in the region,’ said Jouko Lahepelto, senior vice president, Americas and Asia Pacific.
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