Mayr-Melnhof Packaging Acquires Largest Chilean Folding Carton Producer

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Mayr-Melnhof Packaging, Wien, Austria, reported this week that it has made a "first step into the region of Latin America" by acquiring a 70% participation in Marinetti S.A., located in Santiago de Chile. The former family shareholders hold the remaining shares.

Marinetti produces folding carton packaging for multinational as well as local producers of branded goods. Currently the site employs some 650 people and generates annual sales of approximately EUR 45 million. Mayr-Melnhof plans a "significant investment program" for the acquisition, to broaden its technological basis and support development of market potential in neighboring countries.