delfortgroup has acquired Glatz Finepaper Vietnam from Glatz Feinpapiere
delfortgroup is an Austrian based specialty paper producer, with paper mills in Austria, Hungary, Czech Republic and Finland. delfortgroup is an industry leader in papers for Cigarette Industry, for Sustainable Thin Packaging Solutions, for Pharma Industry and for Label Industry. In 2014 the company will achieve revenues of around USD 870 million and does employ 1700 experts worldwide. Vietnam will be the 6th paper mill of delfortgroup and first in the Southeast Asia region.
Glatz Feinpapiere is a German manufacturer of papers for the cigarette industry with sales revenues of about EUR 100 mio, who decided to reshape its strategy to focus on products developed and produced only in Germany (Tipping Base Papers and LIP-papers). Consequently, Glatz will strengthen its European paper mills and LIP operations.
The company will be renamed into Wattens Vietnam as its integration into delfortgroup will be managed by Wattenspapier, a global leader in highly engineered paper solutions for demanding cigarette industry.
The paper mill at Wattens Vietnam was founded and constructed by Glatz in 2009, is located close to Ho Chi Minh City and employs 200 people. It operates a dedicated state of the art cigarette paper machine with an annual capacity of more than 13.000 tons premium cigarette and plugwrap papers.
This is an exciting opportunity that will contribute to strengthening delfortgroup’s position as the global leader in the specialty papers and will help delfortgroup to reinforce its manufacturing foothold in the Asia-Pacific region.
We believe this transaction will accelerate our ability to seize on industry growth opportunities and deliver continued product innovation and consistent, highest quality customer service. With our new mill in Vietnam, delfortgroup will be even better positioned to navigate the evolving specialty papers industry, ensuring continued growth and the overall long-term success of our company.