Cup production by Hipol is handed over to Greiner Packaging Serbia due to partial privatization.
The state-owned Serbian industrial conglomerate Hipol is being partially privatized. Greiner Packaging Serbia was awarded the contract to acquire its cup production, signed over on 27 March 2012. Willi Eibner, CEO of Greiner Packaging International, is pleased to say that, “Based on this acquisition, we are continuing to enhance our strong marketing position in Southeast Europe.”
Kremsmünster, 29 March 2012 – Hipol is a Serbian industrial conglomerate based in Odzaci in the north of the country, founded in 1983. In addition to industrial components and consumer goods made of plastics, it also manufactures cups for the food industry. Their main product line is dairy packaging.
Partial privatization with an eye on growth
Hipol is owned by the Serbian state, and as a result of the tender procedures, the conglomerate was partially privatized. Cup production was among the items up for negotiation. “We are taking over a sector with 60 employees plus the technical equipment for extrusion, thermoforming, printing and injection molding. Within the next three years we plan to increase our workforce in Odzaci to 150 employees,” is Eibner’s optimistic view.
Expansion of market position in Southeast Europe
Greiner Packaging International is taking this step to emphasize its commitment to further enhancement of its strong position in Southeast Europe. Since entry into this market in 2004, Greiner Packaging International has increased its annual turnover in the region to more than €20 million, including revenue from Hipol. This success is also due to the firm commitment of our associated partner, Emil Zorenc. Already, Greiner Packaging International has taken on the role as market leader in the sector of rigid plastic packaging in Southeast Europe.
Ideal synergy
Just last year, the company Greiner Packaging International made an investment in its Slovenian location in Bistrica ob Dravi and it was upgraded with the latest equipment for the production of K3 packaging. “Our strengths in Slovenia, our existing Serbian location in Nova Pazova, and our participation in Hipol are an ideal complementary combination. This creates synergies resulting in even more intensive and successful operations in regions with emerging markets,” explains Eibner.
Corporate Data
Greiner Packaging International is one of the leading companies in the European packaging industry. In 2011, the company achieved annual sales of EUR 446.6 million or more than one third of the total Greiner Group sales. Greiner Packaging International has a workforce of 3,103 employees at 32 sites.
More information online: http://www.greiner-gpi.com
