Greiner Packaging International GmbH is expanding its international presence with a new investment in Turkey.
The Kresmünster, Austria-based company has acquired a 51 percent share in the companies Teknik Plastik and Teknik IML from the Özata Group. Taking majority control of the two companies makes Greiner Packaging “the market leader in rigid plastic packaging for dairy products in Turkey,” the group said in a news release.
The acquisition, for an undisclosed amount, reflects Greiner Packaging's medium-term strategy to grow outside of Europe. Last year, the company started production at its first U.S. site, which makes packaging for the dairy industry in Pittston, Pa.
“We are systematically carrying on the globalization strategy with this expansion to Turkey, and this represents the first step toward markets in the Middle East and Asia," said Axel Kühner, chairman of Greiner Holding, the parent company of Greiner Packaging.
Teknik Plastik and Teknik IML are headquartered in Istanbul and jointly employ around 270 people.
Teknik Plastik was established in 1967 and produces a wide variety of food packaging with a core emphasis on packaging for the dairy industry. Teknik IML opened in July 2004 and specializes in in-mold-labeling.
“The new acquisition in Turkey is confirmation of the successful international trail that we are currently blazing with Greiner Packaging,” said Willi Eibner, CEO of Greiner Packaging International. “We can continue expanding our competence and now have even more options to respond to the wishes of customers from abroad.”