Graham Packaging Company Inc. (NYSE: GRM) today announced that its subsidiary, Graham Packaging Company, L.P., has successfully acquired China Roots Packaging PTE Ltd. (“China Roots”) from PCCS Group Berhad, a Malaysian company.
China Roots is a plastic container manufacturing company located in Guangzhou, China. Graham Packaging and PCCS Group Berhad completed the transaction on July 1, 2010.
China Roots operates a world-class container manufacturing plant in the Guangzhou Economic and Technological Development District. The plant makes plastic containers and closures for food, health care, personal care and petrochemical products. Its customers include several global consumer product marketers. China Roots’ 2009 sales were approximately RMB 111 million.
The purchase of China Roots is the first operation for Graham Packaging in China. “The acquisition of China Roots opens up a significant new market opportunity for Graham Packaging," said Mark Burgess, CEO. "We are excited about taking a major step forward in our pursuit of global growth and serving our multinational customers in this important market.”
