Huhtamaki, a key advanced manufacturer of sustainable packaging solutions for consumers around the world, has entered into an agreement to acquire the assets of Jiangsu Hihio-Art Packaging Co. Ltd., a leading manufacturer of paper bags, wraps and folding carton packaging in China. The company currently serves international quick-service restaurants (QSR) as well as national bakery chains. With this acquisition, Huhtamaki continues to strengthen its position as the leading foodservice packaging provider in Asia and expands its product portfolio in China allowing it to better serve its existing and new customers in this exciting growth market. Jiangsu Hihio-Art Packaging Co. Ltd. currently employs approximately 200 people in its manufacturing unit in Xuzhou city, Jiangsu. Employees will be offered an opportunity to continue to work for Huhtamaki after the transaction is closed. In 2020 the annual net sales of the privately owned business were approximately EUR 20 million. Following the acquisition, Huhtamaki will have altogether four manufacturing units in China: in Guangzhou, Shanghai, Tianjin, and Xuzhou.
Graphic Packaging Holding Company (the “Company” or “Graphic Packaging”) announced today that Maggie Bidlingmaier will join Graphic Packaging as EVP and President of the Americas business unit. Ms. Bidlingmaier was most recently President, Performance Solutions for Invista, a subsidiary of Koch Industries, where she led numerous multimillion-dollar global businesses within the flooring, apparel and airbag fiber segments. Prior to that, she was Vice President, Surfaces at Invista, following a successful career with Avery Dennison in global sales and marketing roles of increasing responsibility.
President and CEO of Graphic Packaging, Michael Doss, commented, “Maggie’s expertise in driving comprehensive vision shifts to accelerate growth and expansion complements our vision of growing with the best customers in the best markets and generating superior returns for our stakeholders. We look forward to Maggie’s leadership in developing team dynamics that will drive our high-performance culture to the next level.”
Joe Yost, previously EVP and President, Americas, has been appointed EVP and President of the International business unit, based in Brussels. In this role, Mr. Yost will have responsibility for converting operations outside the Americas, including the Company’s businesses in EMEA, Australia and New Zealand. Michael Doss continued, “Joe has been instrumental in positioning our Americas business as a leader in the fiber-based packaging segment, and his prior experience in leading our European business will prove valuable as we integrate the AR Packaging acquisition into our global portfolio. I am excited to have someone with Joe’s track record of achievement moving into this critical leadership position.”