Alcan Packaging, part of Rio Tinto Alcan, announced that its Global Beauty division has signed a Share Purchase Agreement to acquire the Tubapak cosmetic tubes manufacturing facility in Russia.
"This acquisition illustrates our growth strategy", said Ilene S. Gordon, president and CEO, Alcan Packaging. "It will enable us to significantly increase our capability in the attractive Central and Eastern European markets, allowing us to develop a competitive industrial base from which to better serve our customers", she added.
The facility covers 7,000 m2 of production and warehousing space in the Moscow area and manufactures plastic tubes for the Russian cosmetic and personal care market.
"Our strategy is to accompany our global customers as they develop new products and enter new markets. This acquisition, our first in Russia, will enable us to meet existing supply contracts and, as we increase the plant's capacity, to grow in this region", said Francois Luscan, president, Alcan Packaging Global Beauty.
The acquisition is subject to clearance by the relevant authorities in Russia.
Alcan Packaging is a world leader in value-added specialty packaging. It delivers multi-materials and innovative solutions to customers around the world for the food, pharmaceutical, beauty and tobacco markets. Led by Ilene Gordon, president and CEO, Alcan Packaging is headquartered in Paris, France. With 129 facilities and 30,000 employees in 31 countries, it generated US$6.2 billion revenues in 2007.