Vienna-headquartered packaging company Constantia Flexibles has announced its pharma division has expanded into Asia with the acquisition of Vietnam's pharmaceutical packaging firm Oai Hung. Financial details of the deal are not being disclosed.
Oai Hung saw sales of 25 million euros ($28.3 million) in 2015, says Constantia, and currently has 240 employees. The company's main products are aluminum blister foil and rigid film for the local pharmaceutical market, it also has a strong presence in the dairy lids sector.
Pierre-Henri Bruchon, executive vice president and head of the pharma division of Constantia Flexibles said: “With the acquisition of Oai Hung, we have obtained our first pharmaceutical production site in Asia and entered the high growth Southeast Asian region. We also see Oai Hung as a hub for further expansion in the region in the future.”
O Cam Tai, CEO of Oai Hung said: “Oai Hung is delighted to be joining Constantia Flexibles. Its business and dedicated team of employees will go from strength to strength within a truly global flexible packaging group.”
Constantia Flexibles Pharma currently operates three pre-material production sites in Austria, Germany and Spain, which serve three satellite plants in Belgium, the U.K. and Germany.
The Pharma division has annual sales of around 300 million euros ($339.5 million), says Constantia, supplies over 1,000 global customers and has about 1,000 employees.
Constantia Flexibles, which employs around 10,000 people and has more than 52 production locations in over 23 countries, recently also acquired the labels company Pemara in Southeast Asia and the flexible packaging company Afripack in Africa.
