AUSTRIAN company Schur Flexibles Group has acquired Moneta-S, a Trebišov-based manufacturer of flexible packaging, the Hospodárske Noviny economic daily reported on April 1. This world leader in innovative packaging solutions from Slovakia supplies about 50 companies across central and western Europe and Russia, including Mondelez in Switzerland and Kraft Foods. The Austrian company’s motivation to buy the Slovak firm was to obtain the technologies of Moneta-S and to penetrate eastern markets.

“We are very pleased to strengthen our group with the portfolio of one of the most innovative and environmentally friendly flexible companies in Europe,” said Jakob A. Mosser, CEO of Schur Flexibles, as cited on the website of Moneta-S. “Moneta-S’ manufacturing and sophisticated R&D capability, as well as access to the eastern European market are a perfect fit.”

According to Mosser, the acquisition will give the Austrian company the opportunity to utilise Moneta’s breakthrough technology throughout its 11 production plants and allow it to offer a significant technological advantage to its customer base.

Thanks to this acquisition the company in eastern Slovakia should continue to grow, the daily wrote. Austrian investors want to invest €1 million and increase the current workforce of 100 by 10 people with further expansion and investments expected.

Founded in 2002, Moneta-S has developed proprietary technology characterised by thin rotogravure printed films that are ecologically sustainable, the company writes on its website. Moneta’s technologies were awarded with the Gold DuPont Most Innovative Packaging Award in 2011.