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, Injection Molding, Blow Molding, Thermoforming, Europe, Asia, Food packaging

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

Latvian plastics recycler Nordic Plast boosts capacity

September 16, 2014 10:15 am ET

Latvian plastics waste recycler Nordic Plast Ltd. has invested more than 2.5 million euros ($3.2 million) to expand capacity and modernize production ...    More

Image

Vanee Foods adding hot-fill line

September 15, 2014 1:55 pm ET

Vanee Foods Co. expects to have a new hot-fill bottling line operational at its Broadview, Ill., facility by the end of this month.    More

Image

ZF finalizes deal to buy TRW, creating another global auto supply giant

September 15, 2014 1:09 pm ET

TRW Automotive Holdings, in a supply chain megadeal that has been in the works since mid-July, said Sept. 15 it has agreed to be acquired by German...    More

Hungarian recycler launches new unit

September 15, 2014 10:59 am ET

Hungarian plastics recycler Polyter-Mix kft has launched a new 1,400-square-meter production hall at a site in Körösladány in southeastern Hungary.    More

Image

Germany's Lehmann & Voss buys U.S.-based Performance Compounding

September 12, 2014 11:36 am ET

German compounding firm Lehmann & Voss & Co. KG has acquired Performance Compounding LLC for an undisclosed price.    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

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

Upcoming Plastics News Events

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

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

More Events