Klockner Pentaplast Group: Sale of Flexible Films Business
Klockner Pentaplast Group, a global leader of film products, announced that it has reached agreement for the sale of its flexible film business with Wipak, the packaging division of Finland-based Wihuri Group, subject to final due-diligence process and anti-trust clearance. The following production sites are affected by this agreement:
• Betzigau, Germany
• Avanspack, Finland and Nordpak, Finland
‘The flexible film divestiture is a relatively small share (3%) of total Klockner Pentaplast Group turnover. Our divestitures will enable us to focus even more on our core growth portfolio in the future’, says Joachim Kreuzburg, President and COO/Europe & Asia. ‘The flexible films segment can now be better developed in an environment where it is part of the core business.’