The Management of the Anonymous Company under the trade name "FLEXOPACK SOCIETE ANONYME
COMMERCIAL AND INDUSTRIAL PLASTICS COMPANY"(the "Company") announces that the Company has decided to proceed to the capital support with the amount of nine million Euro of its 100% subsidiary company «FLEXOPACK INTERNATIONAL LIMITED» registered and established in Larnaca of Cyprus.

The aforementioned capital support will be materialized through share premium increase of its 100% subsidiary company ( which is the participating arm for the Group's strategical development world wide), to the exclusive objective of further funding of the subsidiary company headquartered in Brisbane of Australia , under the trade name "FLEXOPACK PROPERTIES PTY LTD" , in order for the latter subsidiary to use this financial support to build a new industrial unit within an owned land , located in Australia.The investment aims to further develop, implement and complete one exemplary production unit, which will be the springboard for the further enhancement of the presence of the Group in the above geographical area.

The Management of the Company remains strategically and constantly oriented towards the enhancement of the presence and further penetration of the Group in the geographical area of Australia, to the purpose of further growing, development of the Group activity and sales in this specific geographical area and also the more complete , direct and effective servicing of the said market.

Koropi 1st August 2023


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Flexopack SA published this content on 01 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2023 14:37:06 UTC.