Klöckner Pentaplast Group Sells Flexible Films Business
MONTABAUR, Germany—Klöckner Pentaplast Group, a global leader of film products, announced that it has reached agreement for the sale of its flexible film business with Wipak, the packaging division of Finland-based Wihuri Group, subject to final due-diligence process and anti-trust clearance.
The following production sites are affected by this agreement: Betzigau, Germany; Avanspack, Finland; and Nordpak, Finland.
“The flexible film divestiture is a relatively small share (3 percent) of total Klöckner Pentaplast Group turnover. Our divestitures will enable us to focus even more on our core growth portfolio in the future,” says Joachim Kreuzburg, president and COO/Europe & Asia. “The flexible films segment can now be better developed in an environment where it is part of the core business.”