Austria: Delfortgroup acquires Glatz Finepaper Vietnam

Source from:  The Tobacco Journal 12/18/2014

Delfortgroup acquired Glatz Finepaper Vietnam, a leading cigarette paper maker in Southeast Asia, from Glatz Feinpapiere of Germany to capitalise on regional growth opportunities, the company said.

Located near Ho Chi Minh City, the acquisition represents the sixth paper mill owned by Austria-based Delfort, and the first in Southeast Asia. Glatz Vietnam will be renamed Wattens Vietnam and will be managed by Wattenspapier, a supplier of paper solutions to the cigarette industry, Delfort said. The mill in Vietnam was constructed by Glatz in 2009 and can produce more than 13,000 tons of cigarette and plugwrap papers annually.

"We believe this transaction will accelerate our ability to seize on industry growth opportunities", Delfort said. Enditem