Turnhout, Belgium 19 June 2014 -- The Van Genechten Group has acquired Ost-Print LLC, a specialised folding carton producer in the Moscow region. Already approved by the Russian Anti-Monopoly body (FAS), the acquisition takes effect immediately. Following the acquisition of VG Contours ZAO 10 years ago, this new acquisition expands the Belgian Group’s presence in Russia.
The right strategic match
With a steadily growing turnover in excess of € 8 million, Ost-Print focuses on high added-value carton packaging for the Russian market, serving both international and regional FMCG customers. According to Frederic de Somer, Van Genechten Managing Director, the strategic match with Van Genechten Packaging (VGP) – an independent innovative folding carton producer – is obvious:
“We invest in high-growth markets, following our international customers’ expansions, and create a richer, broader offer for our regional customers too. By bringing our innovation, quality, operational excellence and supply chain expertise to the Russian market, we are reinforcing our commitment there. We are glad to have Ost-Print’s experienced personnel on board to develop our activities further in this growing market.”
Making today's high standards work
Ost-Print employs 85 people and operates in food and non-food folding carton segments. Well-equipped with a (pre)press department and UV, hot foil, label and window patching possibilities, it meets today's standards successfully. Ost-Print will now benefit fully from VGP’s international know-how, commercial network, operational excellence and solid financial resources. It will continue to invest in production equipment and logistics, while focusing on quality, service and efficiency. Ost-Print and VG Contours realise combined sales of more than
€ 20 million.
About Van Genechten Packaging (VGP)
VGP is an independent industrial group with headquarters in Turnhout, Belgium. It consists of 10 folding carton factories in 7 countries, leading the European consumer goods industry with printed folding cartons, microflute and other packaging solutions. With an annual turnover of € 300 million, the group converts more than 200,000 tons of cardboard each year and employs 1,500 people.
Trusted by blue-chip companies and multi-awarded by industry specialists, VGP is widely known for both pushing and setting standards in tailor-made folding carton packaging solutions that drive business while being sustainable and innovative on all levels.