AR Metallizing has completed the acquisition of Berlin-based Eurofoil Paper Coating from Aluminium Investment Company with the aim to increase production capacity and better serve its growing customer base.
The transaction was first announced on 11 November 2019 and has been approved since then by the relevant regulatory authority.
‘We are delighted to have completed the acquisition within such an ambitious timeframe and look forward to fully integrating Eurofoil - Paper Coating under the AR Metallizing brand in the coming weeks,’ said Dr. Bart Devos, AR Metallizing’s CEO. ‘As well as growing our production capacity and meeting increased customer demand, the acquisition of Eurofoil has expanded the number of products we can offer for direct food contact packaging applications. Likewise, the acquisition will allow us to strengthen our position as a provider of choice for multinational firms looking to use eco-friendly, paper-based packaging and labelling materials.’
Eurofoil is a European manufacturer of laminated and metallized inner liners. In the past 60 years, the company built a comprehensive portfolio of inner liners including laminated, metallized and pure slitted and coated paper products. The acquisition will increase AR Metallizing’s number of employees to approximately 700.
‘We are happy that the acquisition of Eurofoil Paper Coating is completed and that we can continue our journey as part of the AR Metallizing team,’ said Michael Koblitz, general manager of Eurofoil Paper Coating. ‘We look forward to collaborations with our new global colleagues and contributing to the successes of AR Metallizing going forward.’
Extending AR Metallizing’s global reach with a factory in Berlin will complement the company’s existing plants in Belgium, Italy, North America and Brazil. Eurofoil will eventually be rebranded to AR Metallizing.