Specialty chemicals supplier, Clariant, has signed a purchase agreement to acquire Chinese healthcare packaging supplier, VitaPac. The agreement will enable Clariant to increase market share in emerging markets especially in Asia.
“The acquisition of VitaPac is in line with our strategy to grow profitably by investing in new technologies and new markets. It will enable us to enhance Clariant’s existing portfolio of packaging solutions with new innovative products from the active packaging area, helping us to further develop our positioning in the medical specialties market,” said, Hariolf Kottmann, CEO, Clariant.
Hong Kong based packaging supplier has its plant in Dongguan, China. The plant manufactures high quality protective packaging solutions for the pharmaceutical, neutraceutical and food industries, as well as for the logistics and electronics sectors, mainly in the region of Asia-Pacific (APAC).The plant will expand Clariant’s global footprint.
The transaction is expected to be completed by the end of the fourth quarter of 2014 and subject to regulatory approvals.
