Packaging producer Advanced Industries Packaging has announced that it has reached an agreement with Turkish company Karitex Tekstil to sell the group’s factory in Izmir, in Turkey’s western part.
“The transition period needed for renaming the Turkish company, transfer of its IT infrastructure and other actions usually required in case of disposal of business to a third party will last until June 14, 2024,” Advanced Industries Packaging said in a statement.
The group did not disclose the value of the latest deal.
“Advanced Industries Packaging will continue to operate and develop its six production sites located solely in the EU,” according to the statement.
The group says that its facilities in the Netherlands, Germany, Denmark, Italy, Czech Republic and Romania have a total installed capacity to produce more than 700 million sacks per year.
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