The news comes as Greiner Packaging wants to increase its involvement in the Middle East and Northern Africa.
Growth potential
The firm acquired a majority stake (51%) in Teknik Plastik and Teknik IML, which later merged to become Teknik Plastik Greiner Ambalaj in 2015.
The deal made the Turkish company one of the key players for rigid plastic packaging for dairy products in the region.
Axel Kühner, chairman, Greiner Holding, said at the time the acquisition was part of its global strategy to make inroads into the Middle East and Asia markets.
“Greiner packaging has been very successfully represented in Turkey for the past two years,” said Kühner.
“This land on two continents harbors a great growth potential that we would like to make increased use of.
“The majority stake in Teknik Plastik and Teknik IML in 2015 gave us an initial foray into the markets in the Middle East and North Africa.
“In line with continuing our globalization strategy, we have decided to integrate the Turkish site with its 270 employees entirely into the Greiner Packaging corporate organization.”
Expanding product portfolio
Kühner added, since acquiring the majority stake, Greiner Packaging has continuously been investing in modernizing the site infrastructure in Turkey and machinery, while expanding its product portfolio.
Manfred Stanek, CEO, Greiner Packaging, said Teknik Plastik Greiner Ambalaj will now be known as Greiner Packaging and the company will continue to invest in the site.
It will announce the rebranding and corporate structure at Eurasia Packaging trade fair in Istanbul in October 2017.
Stanek said Eurasia Packaging is one of the most significant trade fairs for the packaging industry in Turkey so it makes sense to officially announce the acquisition there.
Speaking to DairyReporter in April this year, Jörg Sabo, marketing director, Greiner Packaging, said following Brexit it had been a challenging time for its factories delivering to the UK from the EU and it had experienced some losses as a result but the firm also has a factory in Pennsylvania, US.
“We are dealing with active, intelligent packaging on a daily basis and we consider it an essential trend that will have a major impact on the communication possibilities a packaging has to offer,” he said.
“We are now responding to current social trends and showing how packaging changes as a result, and what added value it can offer in the future: for example, reduction of food wastage in barrier packaging; rising demand for light packaging where plastic packaging replaces metal and glass; increasing ecological awareness has seen a rise in cardboard-plastic combinations; increasing urbanization sees demand for a more diverse product range.
"An ageing population calls for high-quality healthcare packaging and increased globalization has led to commitment to foreign markets.
“Besides these trends, we will pay attention to the development of smart packaging, as we are sure it will have a huge influence on our industry.”
At Eurasia Packaging (October 22 – 25) Greiner Packaging will showcase its K3 packaging cardboard-plastic cups with wrap which can be printed on both sides for branding among other products.