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In 2009, Huhtamaki continued to solidify the Group’s financial position and develop its strategic strongholds. Cost control and cash generation as well as price and product mix management were key priorities.Read more about strategy
Q1 / 1.1. – 31.3.2009
Release paper business of Films segment was divested. The action allowed increased focus on Huhtamaki’s stronghold business, release films, and strengthened it further. The transfer of all manu¬facturing will be finalized by the end of the first quarter of 2010.
Reconstruction of flexible manufacturing unit in Thane, India was completed.
Huhtamaki supported WWF Earth Hour.
Q2 / 1.1. – 30.6.2009
The Annual General Meeting of Shareholders (AGM) was held.
Ms. Siaou-Sze Lien was selected as a member of the Board of Directors.
Three rigid plastics manufacturing units in Brazil and one in Argentina were sold. The agreed value for the transaction was EUR 30 million.
Flexible packaging manufacturing in Malvern, USA was discontinued. The facility focuses on films manufacturing.
An expanded polystyrene (EPS) packaging unit in Albury, Australia was sold. The agreed value for the transaction was EUR 5 million.
Q3 / 1.1. – 30.9.2009
Rigid plastics packaging manufacturing unit in Roodekoop, South Africa sold.
Rigid packaging production unit in Balakong, Malaysia was closed. Huhtamaki’s new facility in Guangzhou, China, serves South-East-Asia foodservice customers.
North American production was optimized and rigid plastic manufacturing unit in Phoenix, USA was closed.
Q4 / 1.1. – 31.12.2009
Three rigid plastic manufacturing units located in Australia were sold. The sold units were located in Bankstown, Wacol and Mulgrave. The agreed value for the transaction was EUR 33 million. In Australia, Huhtamaki continues its foodservice, molded fiber and flexibles operations. Huhtamaki continues to review its remaining rigid plastic consumer goods in Europe.
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CEO's review 2009
The operating environment in 2009 was clouded by the economic downturn. Many companies, including ourselves, focused on cost containment and cash flow maximization, and carried out only selected growth actions. Gradually market and customer sentiments have improved, paving the way for a better economy.