Greiner Packaging to acquire remaining shares in Turkish JV
Greiner Packaging is increasing its footprint in Turkey, Middle East and North Africa, by acquiring 100% shares of Turkish dairy product packaging company Teknik Plastik Greiner Ambalaj.
In 2015, the Austrian plastics expert acquired a 51% majority stake in the companies Teknik Plastik and Teknik IML which were later merged to Istanbul-based Teknik Plastik Greiner Ambalaj.
On 23 Aug, Greiner Packaging acquired the remaining shares in the company, which it claims to be the Turkish market leader in the rigid plastic packaging sector for dairy products.
“Greiner packaging has been very successfully represented in Turkey for the past two years. This land on two continents harbours a great growth potential that we would like to make increased use of,” said Axel Kühner, chairman of the Greiner Group.
“We believe in the Turkish market and have positioned ourselves well in the past two years, both geographically and organisationally, in order to serve the markets in the Middle East and North Africa”, added Manfred Stanek, CEO of Greiner Packaging. “We will therefore also continue to invest in the site.”
According to a Greiner release, the company has continuously invested in modernising production site since the acquisition of the majority stake in Teknik Plastik.
The joint venture has previously operated under the brand Greiner Packaging Teknik Plastik, but will be known in the future as Greiner Packaging.
The new corporate structure will also be clear at Istanbul Eurasia Packaging Exhibition in October 2017.
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