The world’s third largest flexible packaging producer, Constantia Flexibles, signed binding agreements to acquire a majority stake in TT-print on December 21. At the production site in Voskresensk, Russia, packaging for the pharma and food industry is produced. The acquisition is expected to be closed in the first quarter of 2019.
After more than a decade of successful cooperations between the two companies, Constantia Flexibles announces the majority acquisition of TT-print.
TT-print was established in 1999 and has about 100 employees today. The production focus of the company lies on packaging solutions for the pharma industry. Some of the core products are printed aluminum blister foil and coldform.
Alexander Baumgartner, CEO, Constantia Flexibles: “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.”
The new site in Voskresensk is Constantia Flexibles’ second plant in Russia besides Constantia Kuban in Timashevsk. The packaging expert aims to expand its market presence and proximity to customers, especially in the pharma industry in Russia and neighbouring countries.