Huhtamaki has entered into an agreement to acquire the Brazilian hygienic films manufacturer Prisma Pack Indústria de Filmes Técnicos e Embalagens Ltda.
 
The acquisition marks an important step in Huhtamaki's strategy of profitable growth and is significantly strengthening its Films segment's geographic scope as well as presence within the growing market of hygienic films.

Prisma Pack is currently privately owned and is a market leader in hygienic films in Brazil. Hygienic films are mainly used in personal care products, such as disposable diapers, feminine protection and incontinence diapers.

Prisma Pack's net sales in 2010 were approximately EUR 40 million. The company has a strong track record of sales growth since its beginning in 2003. The company employs approximately 200 people. Huhtamaki's Brazilian subsidiary will acquire all the quotas of Prisma Pack for a debt free purchase price of EUR 20 million (BRL 47 million).
 
Jukka Moisio, CEO of Huhtamäki Oyj reiterated the company’s excitement over the acquisition. According to Moisio, the strategic fit is perfect.

With Prisma Pack Huhtamaki gains a strong position in hygienic films in the fast growing Brazilian market and improve its ability to serve its global customers in South America, said Moisio.

Peter Wahsner, Executive Vice President Films, said Huhtamaki’s target is to reach a leading position globally in films for hygiene applications.

The Prisma Pack acquisition complements its manufacturing footprint, as the company is just starting operations at its brand new plant in Thailand. With manufacturing sites in Asia, Europe, North America and South America, the company is now able to serve its global key customers from a local supply position throughout the world.

The acquisition is expected to be completed by the end of August 2011. The Group's trading conditions were stable during the first half of the year. Demand for consumer packaging remained robust within emerging markets and the Group's net sales growth accelerated towards the end of the reporting period.

Raw material price levels remained high throughout the reporting period and currencies moved adversely in the second quarter. The Group's trading conditions have been specified in the outlook for 2011.

Huhtamaki Group is a leading manufacturer of consumer and specialty packaging with 2010 net sales totaling EUR 2 billion. Foodservice and consumer goods markets are served by approximately 12,000 people in 53 manufacturing units and several sales offices in 31 countries. The parent company, Huhtamäki Oyj, has its head office in Espoo, Finland and its share is quoted on the NASDAQ OMX Helsinki Ltd.

12th August 2011