Danapak, the packaging company, which is part of Arla Foods, has agreed the principles for a joint venture for flexible packaging in Northern Europe with the Austrian Teich Aktiengesellschaft.
The new company will be formed through a merger of the Danapak-owned Danapak Flexibel A/S and the two Teich-owned companies, Teich Flexibles Ltd. in the UK and Corona Packaging A/S in Denmark. The new company is likely to be headquartered in Denmark.
Danapak Flexibel has factories in Slagelse and Horsens in Denmark and operates a sales office and development department in Odense, also in Denmark. Teich Flexibles operates factories in Derby, England and Dundee, Scotland. Corona Packaging has production in Ishøj outside Copenhagen, Denmark.
Teich Aktiengesellschaft and its German sister company, Haendler & Natermann GmbH are both owned by the listed Constantia Verpackungen group, Europe’s third largest manufacturer of flexible packaging. Teich will have a 60% stake in the new venture against Danapak’s 40%. Turnover will be in the region of DKK 850 million.