KREMSMÜNSTER, AUSTRIA (Oct. 18, 3:15 p.m. ET) — Austrian plastics processing group Greiner Packaging International GmbH has expanded its Assistec technical component business by acquiring the Romanian molder S.C.Amplast of Leresti, Romania.
The move offers Kremsmünster-based Greiner a chance to develop a local market for plastics products in the long term. In addition, it provides the group with an alternative low cost site for labor-intensive orders from international customers, according to Greiner.
Where labor-intensive work is concerned, Greiner's international customers have so far been supplied with products from the Far East.
Amplast, bought for an undisclosed sum from private owners, was formed in 1993. It thermoforms and injection molds a variety of food packaging, catering and fast food service products.
Last year the Romanian firm reported annual sales of 7.06 million euros and now employs a total of 227.
Greiner plans to adapt and develop the Leresti site to provide a suitable site for its technical parts subsidiary.
Commenting on the Romanian acquisition, Greiner group's CEO Willi Eibner said: “This fundamental step towards expansion is significantly strengthening our market coverage and competitive position.”
Greiner's K division already operates a packaging production subsidiary manufacturing thermoformed plastic cups and bottles at Sibiu, Romania.
Its Assistec division runs Austrian plants in St. Gallen and Kremsmünster, and others at Brezova in the Czech Republic and in Monterrey, Mexico. The division is involved in thermoforming, injection molding, surface finishing and assembly work, producing a range of plastics parts to complex assemblies.