Austrian group buys Romanian PET preforms producer

ALPLA, an Austrian group active in plastic packaging with sales of EUR 3.2 billion globally, has acquired the Brasov-based company Star East Pet, specialized in the production of PET preforms for beverage, food, and non-food products. The value of the transaction signed earlier this year has not been made public, but it can be estimated at over EUR 10 million, according to Ziarul Financiar sources. The deal will be completed towards the middle of the year, depending on when the authorities issue the legal and industrial permits. In 2015, Star East Pet posted a turnover of EUR 28.5 million and a net profit of EUR 753,000, with 69 employees, according to Finance Ministry data. ALPLA will increase its production capacity in Eastern Europe through this acquisition. editor@romania-insider.com (photo source: Star East Pet on Facebook)