VIETNAM - Constantia Flexibles Group has acquired Vietnamese packaging manufacturer Oai Hung Co Ltd as part of its growth strategy in Asia.
The deal, which financial details have not been disclosed, is currently awaiting regulatory approval.
Headquartered in Ho Chi Minh City, Oai Hung is a family-owned company founded in 1999. It achieved sales of EUR25 million in 2015 and has currently 240 employees. The company’s main products are aluminum blister foil and rigid film for the growing domestic pharmaceutical market. In addition, the company has a presence in the dairy lidding sector, having entered this market sector two years ago.
“With the acquisition of Oai Hung, we have obtained our first pharmaceutical production site in Asia and entered the high growth Southeast Asian region,” said Pierre-Henri Bruchon, Executive Vice President and Head of the Pharma Division of Constantia Flexibles.
“We also see Oai Hung as a hub for further expansion in the region in the future.”
“Oai Hung is delighted to be joining Constantia Flexibles. Its business and dedicated team of employees will go from strength to strength within a truly global flexible packaging group,” said O Cam Tai, CEO of Oai Hung.
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