BULGARIA – Multivac one of the leading providers worldwide of packaging solutions is investing US$5.6 million in expanding production works at its site in Bozhurishte, Bulgaria.
The investment aimed boosting its production capacity will include the construction of new production and assembly facilities, as well as offices.
Christian Lau, executive vice president of manufacturing at Multivac, said: “The factory in Bozhurishte has progressed very successfully since it was put into operation three and a half years ago and its capacity is now fully utilised.
We are very pleased that this new building will enable us to significantly expand our production capacity at the site.”
The site which is expected to be ready by autumn 2022 follows a €6.8 million (US$7.7m) investment in a new manufacturing site in Ghiloth, India.
According to Multivac, the complex will be built in Rajasthan, 120km from Delhi, and will be ready by December 2022.
Record revenues for Elopak
Meanwhile, Norwegian-based supplier of carton packaging and filling equipment, Elopak overcame pandemic challenges to post a 3.5% revenue growth for the 2021 financial year.
Revenue rose to €940m ($1.05bn), the highest Elopak has ever delivered, while operating profits surged to an impressive 121m ($135m).
Fourth-quarter was just as impressive with the packaging maker reporting revenue growth of 12%, compared to the fourth quarter of 2020.
Adjusted EBITDA for Q4 plummeted to €22.1m ($24.7m) from €26.8m ($30m) in the fourth quarter of 2020.
“We are pleased to deliver a good result in 2021, despite extraordinary cost increases on both the raw material side and the energy side,” said CEO Thomas Körmendi.
Based on the IPO, the acquisition of Naturepak Beverage Packaging Co Ltd, and the environmentally friendly products Pure-TwistFlip and Pure-Pak eSense developed last year, the Elopak CEO said the company is well-positioned for further growth.
Körmendi particularly sees interest in sustainable solutions as one of the key drivers of growth for Elopak where sustainability is an integral part of new product innovations.
Apart from launching new products, the company achieved the Platinum EcoVadis rating, meaning that Elopak is among the top 1% of the most sustainable companies in all sectors.
“With this backdrop, I am sure that Elopak is well equipped to continue the growth and deliver an even better result in 2022,” Körmendi said.
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