European packaging firm Miko expands to Asia through joint venture

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: April 30, 2014 9:06 am ET
Updated: April 30, 2014 9:12 am ET

Image By: Miko Pac NV Belgium's Miko Pac already produces a variety of plastic food packaging in Europe.

Related to this story

Topics Mergers & Acquisitions, Asia, Europe, Food packaging, Blow Molding, Injection Molding, Thermoforming

European packaging company Miko Pac NV is going global through a newly formed 50/50 joint venture with Asian plastics processor Innoware Indonesia.

Oud-Turnhout, Belgium-based Miko, which just invested almost 9 million euros ($12.4 million) to expand its Polish production plant, made the move to capitalize on Indonesia’s huge potential market as well as serving multinational customers in Asia.

Jakarta-based Innoware, with annual sales of $6.2 million and 277 employees, targets similar markets to Miko producing plastic tubs for the food industry, chiefly for ice cream. A second division turns out molded plastic promotional products like soap containers and mugs.

Miko Pac — which also has a sister company specializing in coffee — has injection molding and thermoforming. Innoware has injection molding and blow molding.

“Thanks to our production sites in Belgium and Poland, and our sales office in Germany, we are in a good position to cover the European market. But, now is the time for Miko Pac to target the Asian market as well, which is a long-term target,” explained Miko group CEO Frans Van Tilbourg in a statement.

Image By: Innoware Indonesia Innoware Indonesia has both blow molding and injection molding for food packaging at its plant in Jakarta.

Miko aims to provide the Indonesian partnership with added value based on its expertise. With Innoware, which is already expanding, the Belgian firm plans to establish a new green field plant built to European quality and infrastructure standards, according to Miko’s joint managing director Jan Michielsen.

Miko believes it can take advantage of the likely growth of family size plastic food packaging replacing today’s small plastic foil individual portion packs in the Indonesian market. Such demand will be driven by increased spending power resulting from a growing national economy and Indonesian middle class, the executive predicted.   

In Europe, Miko reported a 7.5 percent sales increase in 2013, to 149 million euros ($206.5 million), partly due to a strong performance in the plastics packaging business. It attracted new customers in Poland and Germany and benefited from success in selling nine million ready-meal packs.

Miko Pac completed an ambitious expansion project adding additional building space, machines and molds at its Polish plastics packaging plant. It completed construction of a new production hall at the site in Bydgoszcz, Poland. This will house up to 40 more injection molding machines. The firm reported it has also taken up an option to purchase and develop a 29,000-square-meter industrial site adjacent to its plant.

Miko Pac saw its divisional pre tax profit increase by 13.6 percent during 2013 and reported that packaging represented 48.1 percent of the group’s turnover for the year. Export business for the group represented 79 percent of its annual sales last year.


Comments

European packaging firm Miko expands to Asia through joint venture

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: April 30, 2014 9:06 am ET
Updated: April 30, 2014 9:12 am ET

Post Your Comments


Back to story


More stories

Image

Amcor buys Chinese flexible packaging plant

December 18, 2014 1:47 pm ET

Australian-based global packaging company Amcor Ltd. is buying a Chinese flexible packaging business for 211 million RMB (US$31.4 million).    More

Image

Europe puts its 'Circular Economy' recycling effort on hold, for now

December 18, 2014 12:28 pm ET

The European Commission has withdrawn its Circular Economy initiative from its 2015 work program, and will instead replace it with “a new, more ...    More

Image

Indian auto parts maker set to buy assets in Germany, Mexico

December 18, 2014 10:35 am ET

Indian auto parts maker Samvardhana Motherson Gropup is buying the assets of insolvent German plastics car parts producer Scherer & Trier (S&T).    More

Image

Sweden's Indutrade buys Belgian packaging firm Verbeek

December 18, 2014 9:42 am ET

Sweden's Indutrade AB has purchased all the shares in Belgium's Verbeeck Packaging Group.    More

Image

Röchling buys two UK firms

December 18, 2014 9:24 am ET

Germany's Röchling Engineering Plastics SE & Co. KG has expanded its presence in the high-performance plastics market by acquiring two British firms &...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

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 billion 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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events