Austria-based plastic packaging firm Greiner Packaging has grabbed 51% majority stake in Teknik Plastik and Teknik IML, both of them from the Ozata Group, capturing the market for rigid plastic packaging for dairy products in Turkey.
Highlighting the firm's medium-term strategy to grow in Europe and abroad, the acquisition leads to the addition of 270 employees, drawn from the duo based in Istanbul.
Greiner Holding chairman Axel Kühner said: "We are systematically carrying on the globalization strategy with this expansion to Turkey, and this represents the first step toward markets in the Middle East and Asia."
Greiner Packaging, which offers development, design, production, and decoration solutions on plastic packaging in the food and non-food sector, currently provides employment to around 3,400 staff in units across 31 locations in 17 countries.
Since its inception in 1967, Teknik Plastik's forte lies in offering packaging solutions to the dairy sector and it deploys a broad spectrum of food packaging technology.
Teknik IML was formed in 2004 and it has a specialization in In-Mold-Labeling (IML) technology.
Greiner Packaging International CEO Willi Eibner said: "The new acquisition in Turkey is confirmation of the successful international trail that we are currently blazing with Greiner Packaging.
"We can continue expanding our competence and now have even more options to respond to the wishes of customers from abroad."
