Webtech acquired by Huhtamäki Oyj

Huhtamäki Oyj's subsidiary in India has acquired 51 percent of the shares in privately held Webtech Labels Private Limited for a debt free purchase price of approximately seven million euros.

Webtech is specialized in manufacturing high-end pressure sensitive labels, especially to pharmaceutical customers. The annual net sales of the company are approximately 10 million euros.

The acquisition is said to complement the existing product portfolio of Huhtamäki Oyj’s Flexible Packaging segment. ‘We continue to implement our growth strategy, and we are pleased to add this expertise to our offering in a fast-growing market such as India,’ said Jukka Moisio, company CEO.

Huhtamaki Group is a leading manufacturer of consumer and specialty packaging with 2011 net sales totaling two billion euros. Foodservice and consumer goods markets are served by approximately 14,000 people in 62 manufacturing units and several sales offices in 31 countries.

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