Constantia Flexibles Group will purchase pharmaceutical packaging manufacturer Oai Hung Co., Ltd. in Vietnam. Approval from the relevant authorities is expected in the coming months. The parties have agreed to not to disclose the price of the transaction.
“With the acquisition of Oai Hung, we have obtained our first pharmaceutical production site in Asia and entered the high growth Southeast Asian region,” says Pierre-Henri Bruchon, executive vice president and head of the pharma division of Constantia Flexibles.“We also see Oai Hung as a hub for further expansion in the region in the future.”
Headquartered in Ho Chi Minh City, Oai Hung is a family-owned company founded in 1999. It achieved sales of 25 million euro in 2015 and currently has 240 employees. The main products are aluminum blister foil and rigid film for the growing local pharmaceutical market.
“Oai Hung is delighted to be joining Constantia Flexibles. Its business and dedicated team of employees will go from strength to strength within a truly global flexible packaging group,” says O Cam Tai, CEO of Oai Hung.
Constantia Flexibles also recently acquired the labels company Pemara in Southeast Asia and the flexible packaging company Afripack in Africa.
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