Finnish
packaging company Huhtamaki, known for making paper cups for McDonald’s , said
on Tuesday it will buy Indian firm Positive Packaging for $336 million to
increase its access to Indian and Middle Eastern markets.
The
acquisition, according to a Huhtamaki spokeswoman , does not include Positive
Packaging’s operations in Nigeria.
In a
statement on it website, Huhtamaki said the acquisition furthers its forays
into the growing markets in Africa and Middle East.
“I
am extremely pleased to announce this acquisition,” says Jukka Moisio, CEO of
Huhtamäki Oyj. “It further enhances our position in India and provides us with
much improved access to the
