SIG strengthens its position in Britain
Swiss packaging technology firm SIG is expanding its British business as it pays SFr8 million ($4.7 million) for outright control of Rexam Combiblic.
SIG, which already controls a 30 per cent stake in Rexam Combibloc, announced on Thursday the acquisition of the entire shareholding of the beverage carton maker.
The group said in a statement that the take-over is in line with an on-going strategy to develop its British-based unit, SIG Combibloc.
SIG Combibloc has been active in the British beverage carton market since 1974.
Rexam Combibloc was until now a 70:30 joint venture between Rexam and SIG Combibloc.
SIG was founded in 1853 as a train car manufacturer. It now has 7,000 employees worldwide.
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