HUHTAMÄKI OYJ PRESS RELEASE 31.5.2024 AT 14:30 EEST
Huhtamaki has decided to consolidate its three Flexible Packaging manufacturing
sites in the United Arab Emirates, keeping one factory in Jebel Ali and
expanding the one in Ras Al Khaimah. The transition will gradually take place
during the second half of 2024.
The aim of the consolidation is to optimize the manufacturing footprint, improve
the competitiveness and strengthen the foundation for future growth in the
region. The announced change is part of Huhtamaki's program to accelerate
strategy implementation published in November 2023 and expected to materially
support the profitability of Huhtamaki with efficiency improvements leading to
savings of approximately EUR 100 million over the next three years.?
Planned consolidation does not represent a material share of the sales or
profits of Huhtamaki. During the second quarter of 2024, Huhtamaki will book
consolidation-related costs in total of approximately EUR 4 million. The costs
will be booked as items affecting comparability.?
For further information, please contact:?
Kristian Tammela, Vice President, Investor Relations, tel. +358 10 686 7058?
HUHTAMÄKI OYJ?
Global Communications?
About Huhtamaki?
Huhtamaki is a leading global provider of sustainable packaging solutions for
consumers around the world. Our innovative products protect on-the-go and on-
the-shelf food and beverages, and personal care products, ensuring hygiene and
safety, driving accessibility and affordability, and helping prevent food waste.
We embed sustainability in everything we do. We are committed to achieving
carbon neutral production and designing all our products to be recyclable,
compostable or reusable by 2030. Our blueloopTM sustainable packaging solutions
are world-leading and designed for circularity.?
We are a participant in the UN Global Compact, Huhtamaki is rated 'A' on the
MSCI ESG Ratings assessment and EcoVadis has awarded Huhtamaki with the Gold
medal for performance in sustainability. To play our part in managing climate
change, we have set science-based targets that have been approved and validated
by the Science-Based Targets initiative.?
With 100 years of history and a strong Nordic heritage we operate in 37
countries and 107 operating locations around the world. Our values Care Dare
Deliver guide our decisions and help our team of around 18 000 employees make a
difference where it matters. Our 2023 net sales totalled EUR 4.2 billion.
Huhtamaki Group is headquartered in Espoo, Finland and our parent company,
Huhtamäki Oyj, is listed on Nasdaq Helsinki Ltd. Find out more about how we are
protecting food, people and the planet at www.huhtamaki.com.?
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