Alcan Packaging has announced that its Global Beauty division has signed a Share Purchase Agreement to acquire Tubapak, a cosmetic plastic tubes manufacturing facility in Russia. The factory is located in the suburbs of Moscow and covers 7,000 m2 of production and warehousing space.
According to Alcan Packaging’s president and CEO, Ilene S. Gordon, the acquisition will help the company to accompany its global customers as they enter new markets. "It will enable us to significantly increase our capability in the attractive Central and Eastern European markets, allowing us to develop a competitive industrial base from which to better serve our customers", she said.
This first acquisition of Alcan in Russia is subject to approval by the country’s authorities.