Austria's Greiner eyes Serbian plastic packages maker Hipol Plast.

By bne IntelliNews March 26, 2012
Austria's Greiner is interested in buying part of the assets of Serbian polypropylene producer Hipol Plast and investing EUR 7-8mn in the coming three years to expand its operations, news service eKapija quoted the deputy head of Hipol, Bozidar Markus, as saying. It is quite certain that Greiner will buy part of Hipol at a public auction that will take place on March 22, Markus said. Greiner has been the sole company that bought documentation to take part in the sale of Hipol. Markus said that the Austrian company plans to raise six times Hipol's current output of plastic cups for the dairy industry via the planned investment. He added a social programme has also been agreed between the two parties as Greiner plans to keep 60 of the current 70 employees of the Serbian company. It would employ 100 new workers once the capacity expansion starts. Greiner Group presents a broad and diversified corporate portfolio based on its core competences in foam and plastics. Greiner Packaging International is among the leading European packaging manufacturers for the food and nonfood areas.

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