Alcan Packaging, part of Rio Tinto Alcan, announced that its global beauty division has signed a share purchase agreement to acquire the Tubapak cosmetic tube manufacturing facility in Russia. According to Alcan, the acquisition will allow it to enter the growing Central and Eastern European personal care markets."This acquisition illustrates our growth strategy", said Ilene S. Gordon, president and CEO, Alcan Packaging. "It will enable us to significantly increase our capability in the attractive Central and Eastern European markets, allowing us to develop a competitive industrial base from which to better serve our customers."
The facility has 7,000-square meters of production and warehousing space in the Moscow area, and manufactures plastic tubes for the Russian cosmetic and personal care market. The acquisition is subject to clearance by the relevant authorities in Russia.