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EU approval for packaging partnership

Press Release   •   Sep 05, 2002 11:24 CEST

EU competition authorities have approved a joint partnership for flexible packaging between the Arla Foods’ owned packaging group Danapak A/S and the Austrian Teich Aktiengesellschaft.

The new company which will be known as Danapak Flexibles A/S is the result of the merger between the existing Danapak Flexibel A/S and the two Teich-owned companies Teich Flexibles Ltd. in the UK and Corona Packaging A/S in Denmark.

Danapak Flexibel operates factories in Slagelse and Horsens and has a sales office and a development department in Odense, Denmark. Teich Flexibles has factories in Derby in England and Dundee in Scotland. Corona operates a production plant in Ishøj outside Copenhagen.

The new company will be headquartered in Odense and the majority of the existing activities will be transferred to the new company. Consequently, Danapak A/S will transfer its present head office from Odense to the carton factory in Korsør. Teich AG will have a 60 % stake in the new company. Danapak A/S will own the remaining 40%.

With a turnover of approximately DKK 800 million and 475 employees, the new company will be one of Northern Europe’s largest manufacturers of flexible packaging.