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.