ESPOO, FINLAND (Aug. 12, 1:15 p.m. ET) — Flexible packaging company Huhtamäki Oyj has an agreement to buy Brazilian hygienic films manufacturer Prisma Pack Indústria de Filmes Técnicos e Embalagens Ltda.
Espoo-based Huhtamäki said Aug. 12 that it will pay 20 million euros for Prisma Pack.
“With Prisma Pack we gain a strong position in hygienic films in the fast growing Brazilian market and improve our ability to serve our global customers in South America,” said CEO Jukka Moisio, in a news release.
Camaçari, Brazil-based Prisma Pack's films are used in personal care products including disposable diapers, feminine protection and incontinence diapers. The company employs 200 and had 2010 sales of about 40 million euros.
Huhtamäki employs 12,000, has 53 manufacturing plants and posted 2010 sales of 2 billion euros.