Huhtamaki to Close Prague Flexible Packaging Plant as Part of European Consolidation Strategy
June 9, 2023Global packaging solutions provider Huhtamaki has decided to consolidate its Flexible Packaging production footprint in Europe by closing its manufacturing facility in Prague, Czech Republic. The closure process, which affects all 198 employees at the site, will begin in the second half of 2023 and is expected to be completed by March 31, 2024. Production will be gradually shifted to other Huhtamaki manufacturing sites. While the company will book closure-related costs of approximately €35 million in Q2 2023, the move is anticipated to be cash positive in the long term and increase Huhtamaki’s competitiveness in Europe. The closure does not impact the company’s Fiber packaging operations in Okrisky, Czech Republic.
