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

Inteplast expands in corrugated sheet with Coroplast deal

August 21, 2014 5:28 pm ET

Packaging major Inteplast Group has acquired its main competitor in corrugated plastic sheet, Coroplast Inc. Inteplast gets corrugated sheet plants...    More

Image

NanoHolding, Applied Nanotech merge to form PEN Inc.

August 21, 2014 4:44 pm ET

Nanotechnology firms NanoHolding Inc. and Applied Nanotech Holdings Inc. are merging to create PEN Inc., a publicly held firm whose product mix will...    More

Image

Report predicts growth for flexible packaging

August 21, 2014 12:34 pm ET

Flexible packaging in the United States grew last year and is expected to continue to grow this year, according to a new report by the Flexible...    More

Image

German injection molders Metz-Werke and Inotech to collaborate

August 21, 2014 11:47 am ET

German injection molding companies Metz-Werke GmbH & Co. KG and Inotech Kunststofftechnik GmbH have announced that they have joined forces to bring...    More

Image

German firms combine hybrid part expertise

August 21, 2014 11:18 am ET

L. Possehl & Co.'s acquisition of TPS Technical Plastic Systems GmbH will bring together companies which specialize in the manufacture of hybrid plast...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events