Sabah – Austrian packaging manufacturer Greiner Packaging has made a move towards the Middle East and Asia by acquiring 51-percent stakes of Turkish companies Teknik Plastik and Teknik IML.
Operating under the Istanbul-based Ozata Group, Teknik Plastik is a supplier of packaging for global brands including Danone, Nestle, and Ulker, while Teknik IML is an in-mould labelling specialist.
Already a strong player in the Turkish packaging market for dairy products, the Austrian company’s acquisition for an undisclosed amount makes it the market leader in a key growth country situated next to other emerging markets.
"We are systematically continuing the globalization strategy with this expansion to Türkiye, and this represents the first step toward markets in the Middle East and Asia," Chairman of Greiner Holding Axel Kuhner said at the press conference announcing the deal.