UPM Raflatac closes acquisition of labelstock coating operation in Brazil
May 10 2011 UPM Raflatac has closed its acquisition of Gumtac, the Brazilian labelstock coating and slitting business of the BIC Group.
Papernet published the announcement of the acquisition in February. Gumtac employs approximately 35 people in in Rio de Janeiro.“Combining Gumtac’s well-managed operations with UPM Raflatac’s high-quality brand recognition gives us an excellent platform to further grow our business with label printer partners in Brazil and throughout South America,” says Jouko Lähepelto, Senior Vice President, Americas & Asia Pacific, UPM Raflatac.