Huhtamaki invests to grow in China
HUHTAMÄKI OYJ PRESS RELEASE 16.9.2016 AT 9:15
Huhtamaki invests to grow in China
Huhtamaki supports the profitable growth of its foodservice business in China by investing in the expansion and modernization of its manufacturing unit in Guangzhou, South China. The total investment including site expansion, improvements in plant layout and new high-speed machinery is expected to be approximately EUR 15 million. "With its growing population and rapid urbanization China is an important market for our quick service and specialty coffee customers. With this investment we will create a modern, efficient, high-capacity manufacturing unit and significantly improve our productivity and capability to serve our customers in the future," says CEO Jukka Moisio.
The investment follows Huhtamaki's earlier announced actions to improve the competitiveness of its foodservice business in China and consolidate the South China manufacturing operations. The modernized unit will manufacture a defined core foodservice packaging product range. Majority of the investment will take place in the latter part of 2016 and early 2017, and the modernization is expected to be completed by the end of 2017.
"This major investment brings our operations in China into a new level and strengthens our position as a leading foodservice packaging provider in East Asia," says Eric Le Lay, Executive Vice President, Foodservice Europe-Asia-Oceania business segment. "We're pleased to invest in serving our customers better and helping them grow."
For further information, please contact:
Jukka Moisio, CEO, tel. +358 10 686 7801
Thomas Geust, CFO, tel. +358 10 686 7880
Kaisa Uurasmaa, Investor Relations, tel. +358 10 686 7815
HUHTAMÄKI OYJ
Group Communications
Huhtamaki is a global specialist in packaging for food and drink. With our network of 73 manufacturing units and 23 sales offices in 34 countries, we're well placed to support our customers' growth wherever they operate. Mastering three distinctive packaging technologies, approximately 17,000 employees develop and make packaging that helps great products reach more people, more easily. In 2015 our net sales totaled EUR 2.7 billion. The Group has its head office in Espoo, Finland and the parent company Huhtamäki Oyj is listed on Nasdaq Helsinki Ltd. Additional information is available at www.huhtamaki.com.