Ad hoc: Arla and Constantia Packaging AG terminate their Danapak Joint Venture

Mon. March 02, 2009; Posted: 10:57 AM

Mar 02, 2009 (Hugin via COMTEX) -- CNPKF | Quote | Chart | News | PowerRating -- Constantia Packaging AG and the Danish company Arla Foods terminate their Joint Venture which existed since 2002. The separation of this Joint Venture corresponds with the present strategic orientation of both groups and supports their further focus on their core markets. Danapak will take over the sites Slagelse and Horsens, which are tailored to the requirements of Arla Foods. They had annual sales of approximately n 60 mio with 270 employees.

At the same time, the third site Corona Packaging A/S with sales of n 18 mio and 30 employees will go to Constantia Packaging AG, being an ideal sales site in the Scandinavian region. It was agreed not to disclose purchase prices. The agreements are subject to approval by the supervisory boards and merger control authorities. Both Danapak and Corona are in the packaging business, mainly in the dairy and food industry.

The Constantia Packaging Group has activities in the Aluminum, Corrugated Board and Flexible Packaging segments. Approximately 8.400 employees working in 20 countries in Europe, Asia and North America produce primary aluminum and semi-finished aluminum products, plastic and aluminum packaging, paper and corrugated board for the food, beverage, pharmaceutical, automotive, aerospace and other industries.

- End of statement -

For more information:

Constantia Packaging AG

Veronika Zuegel Communications

Wolfgang Schwaiger Investor Relations

Dr. Hanno M. Baestlein Chief Executive Officer

Opernring 17, A-1010 Vienna Tel.: +43 (01) 588 55-330 Fax: +43 (01) 588 55-9330 E-Mail: info@constantia-packaging.com Homepage: www.constantia-packaging.com

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

SOURCE: Constantia Packaging AG

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