NORTHERN IRELAND – Huhtamaki has announced the start of smooth molded fiber (SMF) production at its existing Lurgan, Northern Ireland facility.
This expansion strengthens Huhtamaki’s commitment to meeting the growing demand for sustainable packaging solutions.
The investment increases Huhtamaki’s global capacity in SMF products, adding to its production sites in Germany, Holland, the USA, and Asian partnerships.
With 40 years of experience in fibre products, Huhtamaki’s cutting-edge SMF technology ensures superior product quality and competitiveness.
Their fibre lids feature a patented click-fit function for secure closure and are both home-compostable and easily recyclable.
Fredrik Davidsson, President of Fiber Foodservice E-A-O at Huhtamaki, expressed excitement about the expansion: “We’re thrilled to supply locally made smooth moulded fibre lids to our customers in the UK and Ireland.
“This investment reflects our dedication to delivering sustainable packaging solutions. Our technology offers high-quality products, supported by Lurgan’s 70-year legacy of paper pulping.”
Furthermore, these lids, along with other SMF products from Huhtamaki, are home-compostable and readily recyclable.
Headquartered in Finland, the company provides sustainable packaging solutions globally for the food, beverage, and personal care sectors.
The company is committed to achieving carbon-neutral production and aims to design all its products to be recyclable, compostable, or reusable by 2030.
Huhtamaki India stock sees decline
Meanwhile, Huhtamaki India, a small-cap packaging company, saw its stock drop 8.64% on October 23, 2024, closing at Rs. 339.85.
This decline aligns with MarketsMojo’s ‘Sell’ recommendation and continues a three-day downward trend during which the stock has lost 14.2%.
The stock trades below all key moving averages (5-day, 20-day, 50-day, 100-day, and 200-day), indicating a bearish outlook.
Over the past month, Huhtamaki India has underperformed, with a decline of 13.76% compared to the Sensex’s 5.70% drop.
Investors are urged to conduct thorough research and consult financial advisors before making investment decisions, as market conditions and company-specific factors continue to affect Huhtamaki India’s performance.
In June of this year, Huhtamaki announced that it would consolidate its Flexible Packaging manufacturing sites in the United Arab Emirates.
The company will maintain its Jebel Ali factory and expand the Ras Al Khaimah site. Huhtamaki will gradually initiate the transition during the second half of 2024.
According to the company, the consolidation is intended to enhance manufacturing efficiency, boost competitiveness, and lay a robust foundation for future growth in the region.
The move aligns with Huhtamaki’s strategy to expedite strategy implementation, which was announced in November last year.
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