01.30.18
Huhtamaki has agreed to establish a joint venture with Smith Anderson Group Limited, one of Europe’s leading paper bag suppliers, to manufacture and sell foodservice paper bags in Eastern Europe.
The joint venture will start manufacturing paper bags at Huhtamaki’s facility in Czeladz, Poland. Manufacturing operations are expected to begin during Q1 2018. Huhtamaki currently manufactures paper bags in Russia only.
As the majority shareholder, Huhtamaki will consolidate the joint venture company as a subsidiary in the Group’s financial reporting.
The joint venture will start manufacturing paper bags at Huhtamaki’s facility in Czeladz, Poland. Manufacturing operations are expected to begin during Q1 2018. Huhtamaki currently manufactures paper bags in Russia only.
As the majority shareholder, Huhtamaki will consolidate the joint venture company as a subsidiary in the Group’s financial reporting.