March 30 (SeeNews) - Belgian reusable packaging producer DW Reusables said it has completed the acquisition of Croatian injection moulding and extrusion company Strazaplastika.
Strazaplastika will further expand DW Reusables’ portfolio of reusable crates, pallets, and containers for the beverage industry, with an extended range of trays, totes and carriers for the food, agriculture, construction, and automotive market among others, the Belgian company said in a statement on Tuesday, without disclosing the value of the deal.
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With 227 employees in Hum na Sutli, northern Croatia, and two other facilities located in Probistip, North Macedonia, and Subotica, Serbia, the acquisition will support the company's drive to further develop the tremendous potential of reusable packaging for customers in Europe, Africa, Asia and North and South America, it added.
Strazaplastika boosted net profit to 11.5 million kuna ($1.7 million/1.5 million euro) in 2020 from 3.5 million kuna in 2019, as revenue rose 1% to 107 million kuna, the Vecernji List daily reported. Prior to the acquisition, Croatian investment company Aquae Vivae was majority shareholder of Strazaplastika, it added.
(1 euro=7.573 Croatian kuna)