M&As: Constantia Flexibles strengthens its position in Russia; EU Commission clears BASF’s acquisition of Solvay’s PA business


The world’s third largest flexible packaging producer, Constantia Flexibles, recently signed binding agreements to acquire a majority stake in TT-print. At the production site in Voskresensk, Russia, packaging for the pharma and food industry is produced. The acquisition is expected to be closed in the first quarter of 2019.

After more than a decade of successful cooperations between the two companies, Constantia Flexibles announces the majority acquisition of TT-print.

TT-print was established in 1999 and has about 100 employees today. The production focus of the company lies on packaging solutions for the pharma industry. Some of the core products are printed aluminum blister foil and coldform.

Alexander Baumgartner, CEO, Constantia Flexibles: “With this acquisition we will be taking a leading position in the Russian pharma packaging industry. It requires local presence to serve the rapidly growing Russian packaging market.”

The new site in Voskresensk is Constantia Flexibles’ second plant in Russia besides Constantia Kuban in Timashevsk. The packaging expert aims to expand its market presence and proximity to customers, especially in the pharma industry in Russia and neighbouring countries.

In other news, the EU Commission has granted conditional clearance for German chemical company BASF to acquire Belgian firm Solvay’s polyamide (PA) business. This approval is an important milestone for the transaction. Closing is expected in the second half of 2019 after all remaining closing conditions have been fulfilled, including the sale of a remedy package to a third party.

During the approval process in Europe BASF made commitments to address the competition concerns of the EU Commission. They require divesting parts of the original transaction scope to a third-party buyer, namely manufacturing assets and innovation capabilities of Solvay’s PA business in Europe. The divestment process started in Q4 2018.

The PA businesses to be acquired in the Americas and in Asia are not affected by the commitments.

BASF will achieve key strategic objectives from the acquisition and strengthen its polyamide 6.6 business significantly. The acquisition will complement BASF’s engineering plastics portfolio, enhance the access to key growth markets in Asia and South America as well as strengthen the value chain through backward integration into key raw materials such as ADN (adipodinitrile).


Subscribe to Get the Latest Updates from PRA  Please click here

©2018 Plastics and Rubber Asia. All rights reserved.

©2018 Plastics and Rubber Asia. All rights reserved.

Home Terms & Conditions Privacy Policy Webmail Site Map About Us


Contact Us Register Subscribe