SHAREHOLDERS in Clondalkin have given the go ahead for the £58 million acquisition of the Dutch plastic packaging company Van der Windt - the biggest purchase in the Irish company's history.
Following shareholder approval at yesterday's extraordinary general meeting in Dublin, the final elements of the deal should be completed within a week, according to Clondalkin chief executive, Mr Henry Lund.
Speaking after the meeting, Mr Lund said Clondalkin planned to re-focus Van der Windt in certain areas and added that it "would take a more active interest" in the Dutch firm than its previous owners.
Production at Van der Windt, which has manufacturing plants in the Netherlands and Germany, is to be stepped up, Mr Lund said.
Van der Windt reported profits of £7.3 million last year, on sales of almost £101 million. The company specialises in the manufacture, trade and distribution of packaging materials for the agricultural, industrial and consumer markets and employs 750 people.
Clondalkin is paying £39.2 million in cash for Van der Windt and will also take over debts of just under £18.8 million.
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