Following the successful completion of the acquisition process of the leading Croatian manufacturer of flexible packaging, Aluflexpack group, the industrial group Montana Tech Components (MTC) has appointed a new management team and announced an investment of over 30 million euros in the coming years, it was announced today by MTC.
The new management team of Aluflexpack group consists of Chairman of the Board Igor Arbanas, Chief Operating Officer Ivo Pastuović, and Chief Financial Officer Johannes Steurer (CFO).
Significant investments, exceeding 30 million euros, are planned over the next few years, aimed at improving the competitiveness, productivity, and capacity of Croatian production facilities, all in line with plans for “healthy growth,” the statement said.
MTC group acquired Aluflexpack group in November 2012, and within six months of operating in the Croatian market, it gained positive impressions and initiated successful further business development, the statement noted. The acquisition of Aluflexpack group is MTC group’s first step in taking one of the leading positions in the European packaging industry and strengthening its expertise in the aluminum industry.
The initial plan for Aluflexpack group has not only been achieved but also exceeded, the statement further said. It also adds that both MTC and Aluflexpack group believe that the positive consequences of Croatia’s entry into the European Union (such as legal certainty, reduction of trade restrictions with the EU, reduction of administration required for customs clearance, and so on) will far outweigh the negative ones (such as the introduction of tariffs in some eastern markets).
