Huhtamaki sells Italian food-service business

By Michael Lauzon
Correspondent

Published: October 30, 2013 3:54 pm ET
Updated: October 30, 2013 3:56 pm ET

Related to this story

Topics Packaging, Mergers & Acquisitions, Injection Molding, Thermoforming, Food service
Companies & Associations Huhtamaki: Huhtamäki Oyj

Huhtamaki Oyj has sold a non-core, commodity food-service business in Italy.

The Finnish firm said Oct. 30 that its Huhtamaki Spa subsidiary was bought by Diesse srl of Sicily for 5 million euros. The Italian unit primarily makes polystyrene products such as cutlery, cups, plates and bowls in Settimo Torinese, Sant-Ilario d’Enza and Buccino and had sales of about 50 million euros last year. Diesse makes PS packaging for the foodservice market.

Huhtamaki spokeswoman Katarina Hietaranta said in a phone interview that the Italian food-service business with the brand name Bibo was a small part of its European food-service business.

Huhtamaki, based in Espoo, Finland, estimates the divestment will boost earnings before interest and taxes by 3 million to 4 million euros a year for its Europe-Asia-Oceana food-service segment beginning in 2014. The company will take a charge of Euros17 million on the sale in the fourth quarter of 2013.

Huhtamaki CEO Jukka Moisio said the company will “continue to serve the professional foodservice market in Italy from our other European units.”

“This will allow us to expand our manufacturing operations and strengthen our market presence in Italy,” noted Diesse director Faro Di Santo in a news release.

Hietaranta said the sale in Italy was isolated and not the start of a plan to get out of food-service markets.

In North America, Huhtamaki Inc. thermoforms and injection molds Chinet premium plastic foodservice items in Coleman, Mich., and New Vienna, Ohio, said spokesman Wess Hudelson in an interview from Huhtamaki Inc.’s head office in De Soto, Kan.

In total, Huhtamaki runs 15 plants in the United States and Mexico, most of which make paperboard foodservice products and packaging. The company is completing a conversion of a former Ford Motor Co. factory in Batavia, Ohio, to make paperboard foodservice products.


Comments

Huhtamaki sells Italian food-service business

By Michael Lauzon
Correspondent

Published: October 30, 2013 3:54 pm ET
Updated: October 30, 2013 3:56 pm ET

Post Your Comments


Back to story


More stories

Image

Atkore expands in PVC conduit, buying American Pipe & Plastics

October 20, 2014 6:06 pm ET

Atkore International Inc. of Harvey, Ill., has acquired PVC conduit maker American Pipe & Plastics Inc. of Kirkwood, N.Y., which serves the...    More

Image

Report: Suspected former Nazi with plastic connection collecting Social Security

October 20, 2014 3:52 pm ET

AKRON, OHIO — A one-time plastics executive in Akron is among dozens of suspected former Nazis who have been collecting U.S. Social Security...    More

Molder expands in France with new clean room

October 20, 2014 1:30 pm ET

Global Closure Systems (GCS), a global injection molding producer, showed off its new ISO 7 clean room at its Astra Plastique factory in France...    More

Molder goes to auction block

October 17, 2014 12:17 pm ET

An Illinois custom injection molding operation will be auctioned off after its owner decided to close the business.    More

Image

Plastikon expanding in Kentucky

October 17, 2014 11:24 am ET

Automotive supplier Plastikon Industries Inc. plans to more than double the size of its production facility in Leitchfield, Ky.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events