Flexible packaging firm Constantia Flexibles has agreed to purchase a majority stake in Russia-based packaging firm TT-print for an undisclosed sum.
Image: Constantia Flexibles has agreed to acquire majority stake in TT-print. Photo: courtesy of Constantia.
Founded in 1999, TT-print manages production facility in Voskresens to manufacture packaging solutions for the pharma and food industry.
With around 100 employees, the company produces products such as printed aluminum blister foil and coldform for the customers in the pharma industry.
The acquired facility is Constantia’s second plant in Russia, while the other facility is Constantia Kuban in Timashevsk.
Constantia Flexibles is focusing on expanding its marketing operations, specifically in the pharma industry in Russia and neighbouring countries.
The deal is expected to be completed in the first quarter of this year.
Constantia Flexibles CEO Alexander Baumgartner said: “With this acquisition we will be taking a leading position in the Russian pharma packaging industry. It requires local presence to serve the rapidly growing Russian packaging market.”
In August 2018, Constantia Flexibles acquired majority interest in Indian flexible packaging firm Creative Polypack.
Founded in 1986, Creative Polypack manufactures film-based flexible packaging solutions for the food and home & personal care (HPC) industries.
Creative Polypack employs around 850 employees, and operates eight production facilities in Baddi, Kanpur, Kolkata, Assam and Puducherry, in northern, eastern and southern India.
The company, which also produces paper-based soap wrapper products, serves domestic and international consumer goods companies in India.
In October same year, Constantia Flexibles selected augmented reality (AR) technology provider Wikitude as the technology partner to optimize its Constantia Interactive platform.
By using AR software from Wikitude, the platform allows smartphones to easily recognize a variety of shapes and packaging.
The partnership will work to expand the interactive packaging market, said Wikitude. Augmented reality apps based on Wikitude are said to support Android, iOS or Windows devices.
Constantia Flexibles supplies flexible packaging and label solutions to the customers in the food, pet food, pharmaceuticals and beverage industries.
With around 9,100 employees, the company produces tailor-made packaging solutions at 39 sites in 17 countries.