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| 2004-05-06 |
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Unterland acquires 75.1% of Norvic Associates
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Unterland Flexible Packaging AG (www.unterland.at), a leading European manufacturer of plastic film, has recently acquired a 75.1% shareholding in Norvic Associates Limited (Norwich / UK). Norvic for more than 14 years has been the exclusive distributor of agricultural stretch film for Unterland in the UK. The high quality products are traded under the Unterland and Norvic brand names. Advert John Debbage, Managing Director of Norvic, will continue to work with Norvic and retain a 24.9% shareholding in the company.
Unterland in 2003 generated total turnover of Euro 90 m with 400 employees. It has been recently acquired by CMP, a Berlin based private equity firm. Norvic in addition to agricultural film also distributes agricultural netting and twine as well as christmas machines and netting. |
Unterland Flexible Packaging AG, Kufstein/Austria
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