Newsroom » Graham Packaging Company Inc. acquires Techne Technipack Engineering assets

Graham Packaging Company Inc. acquires
Techne Technipack Engineering assets

YORK, PA, April 20th, 2011 - Graham Packaging Company Inc. today announced that its subsidiary, Graham Packaging Company Italia S.r.l., has committed to acquire the assets of Techne Technipack Engineering Italia for a total consideration of € 8.8 million.

TECHNE manufactures extrusion blow molding machines and has an installed customer base of over 1.000 machines with over 250 customers representing more than 60 countries. TECHNE’s machines produce bottles for end use applications in dairy, household, industrial, personal care, pharmaceutical, food, and beverage markets.

Graham intends to acquire intellectual property, inventory, fixed assets, customer relationships and trade agreements and intends to continue to operate TECHNE’s manufacturing site in Bologna, Italy.

“TECHNE’s assets significantly expand our proprietary machine technology and allow us to continue to drive innovation and cost effectiveness with our customers,” said Mark Burgess, CEO of Graham. “Their installed base of over 1.000 machines gives us additional opportunities to expand our activity in international markets and other market adjacencies.”