Greiner Packaging sells its composite can production to Weidenhammer

Greiner Packaging AG Switzerland, a company of Greiner Packaging International, will sell its product segment composite cans by 31 May 2009.

The whole workforce of 16 can be further employed in the enterprise. The strategically motivated transaction permits Greiner Packaging AG Switzerland to focus on the segments k3 plastic-cardboad combinations and k2 plastic products. The composite can production is acquired by the German Weidenhammer GmbH & Co. KG, a medium-sized family-owned enterprise from Hockenheim and leading Europe-wide producer of composite cans.

Composite cans are rigid, round or out of round packagings made from a combination of different materials. They consist of 90% refined recycling paper, the bottom and the closure are made of plastic, carton or metal.

By 31 May 2009 Greiner Packaging will discontinue its production of composite cans at the Swiss production site Diepoldsau. The product segment having a share of sales of approx. 7 % is taken over by the German Weidenhammer GmbH & Co. KG, an enterprise of the Weidenhammer Packaging Group. The parties agreed that the purchase price shall remain confidential.

Andreas Frank, CEO of Greiner Packaging AG Switzerland, says: - This strategic step enables us to fully concentrate on our strengths. We are convinced that we’ve have made the right decision in favour of our corporate success in an economically challenging ambience.

In future, the production site Diepoldsau will fully focus on the growth markets with k3 plastics-cardboard combinations as well as k2 products of plastic material, using the processes deep-drawing and injection moulding for production. The relevant investments are already being implemented to be able to accommodate the still growing demand for these products.