Huhtamaki Ups Stake in Arabian Paper Products
Huhtamaki of Finland announced on March 22 that it has upped its stake from 40% to 50% in Arabian Paper Products Company. APPCO is a joint venture between Huhtamaki and The Olayan Group.
APPCO’s operative territory currently includes the countries of the Gulf Cooperation Council. Huhtamaki stated: “With the expansion of the joint venture relationship Huhtamaki continues to implement its growth strategy and strengthens its position in Middle East and North Africa."
The joint venture plans to expand its product line to include other Huhtamaki foodservice packaging products.
APPCO was established as a joint venture between Huhtamaki and The Olayan Group in 1985, operating in Al-Khobar, Saudi Arabia. Utilizing a state of the art graphics department with world-class raw materials and attention to detail, APPCO has grown to become the leading paper cup producer in the Middle East region.
Additional information is available at www.huhtamaki.com.