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.

Related Articles

Serbia's external debt up 4.7% y/y to EUR 25.4bn at end-Feb 2013.

Serbia's foreign debt rose an annual 4.7% y/y to EUR 25.4bn at end-February after climbing 6.6% on the year in January, central bank data showed. In monthly terms, however, the external ... more

Vip Mobile Serbia signs five-year managed services deal with Ericsson.

Swedish company Ericsson said it has signed a five-year managed services contract with Vip Mobile - the Serbian arm of Telekom Austria Group. The agreement includes field maintenance services for ... more

Telenor and Societe General possible buyers of Serbia's KBC Banka - report.

Norwegian telecommunications firm Telenor and France's Societe General are seen as possible buyers of the Serbian unit of Belgium's KBC Group, which has been on sale for several years now, a ... more

Dismiss