Alcan Inc. has completed the acquisition of VAW Flexible Packaging from Norsk Hydro for about EUR345M.

The acquisition significantly enhances Alcan’s global leadership position in packaging by adding one of the world’s leading producers of high-quality flexible packaging to its portfolio.

“The flexibles market is a rapidly growing area of the packaging industry. This move will give us a wider geographical coverage, particularly in Asia,” says president and chief executive officer Travis Engen.