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Hungarian packaging maker TiszaTextil to buy bankrupt Estonian peer

Hungarian packaging company TiszaTextil is buying bankrupt Estonian peer OU Uritus, a maker of flexible intermediate bulk containers, “big bags” with a load capacity of 500-1,500kg, TiszaTextil told MTI.

 

The company said it aims to strengthen its position on the big bag market with the acquisition.

TiszaTextil will operate the company, based in Kohtla-Jarve, as an independent unit under the name TiszaTextil Eesti, managing director Zsolt Vágó said.

Austrian-owned TiszaTextil has capacity to produce 1.2 million big bags a year.

TiszaTextil had revenue of HUF 2.4 billion in 2009. The company exports about two-thirds of its products.

TiszaTextil employs 250 people at its base in Tiszaújváros. (MTI – Econews)