I am pleased to inform you that an agreement has been signed for Klӧckner Pentaplast (“KP”) to acquire LINPAC.
This transformational agreement provides a unique opportunity to combine the highly innovative capabilities of both KP and LINPAC, strengthening our customer-centric approach to the market and creating real value for our customers. Going forwards, KP will be able to offer complete packaging solutions across rigid films, trays and flexible films to the food, pharmaceutical and specialities sectors. With 32 locations across 16 countries, the consolidated group provides a truly global footprint able to serve our customers wherever they are located.
The transaction is subject to approval by certain regulatory authorities, as well as information processes with employee representatives in certain jurisdictions. It is expected to close in the summer of 2017.
This transaction will have no effect on our existing contractual relationships. On behalf of the LINPAC management team, I would like to thank you for the trust you have placed in our business and we look forward to continuing our work with you during this exciting phase in our company’s future.
Chairman and CEO LINPAC