Huhtamäki Oyj - Company Announcement

Huhtamäki Oyj to acquire a major foodservice packaging supplier in Asia

HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 22.3.2012 AT 07:00

Huhtamaki has entered into an agreement to acquire Josco (Holdings) Limited
("Josco"), a manufacturer and distributor of paper and plastic disposable
packaging products headquartered in Hong Kong and with manufacturing in China.
With the acquisition Huhtamaki continues to implement its strategy of quality
growth and significantly strengthens its position as a global provider of high
quality foodservice packaging products."I am extremely pleased to announce this acquisition," says Jukka Moisio, CEO of
Huhtamäki Oyj. "It further strengthens our leading position in the fast growing
Asian markets, particularly in China. Many of our global customers are investing
heavily to grow in China, and now we are better resourced to help them grow."

Josco is privately owned and is a leader in paper and plastic disposable
packaging products in China and Hong Kong. The company has also significant
exports to Europe, the United States and Australia. The company's net sales in
2011 were approximately EUR 70 million and it employs approximately 1,350
people. The company is strategically located in China with two manufacturing
units (Guangzhou and Shandong) and two distribution centers (Shanghai and
Beijing). It also has sales operations in Hong Kong. Huhtamaki will acquire
Josco for a debt free purchase price of EUR 67 million."With Josco we are able to create a superior service platform for foodservice
customers in Asia," says Eric Le Lay, Executive Vice President, Foodservice
Europe-Asia-Oceania. "Josco's strategic locations in China, its complementary
product range and strong network of suppliers are a perfect strategic fit to our
existing Foodservice business in Asia.  Josco's service concept is truly
customer focused," he continues. "The acquisition further strengthens our
position as the leading foodservice packaging supplier in Asia. In addition to
four manufacturing units in China we will have sales offices in Singapore,
Thailand, Taiwan and Hong Kong."

Jukka Moisio, CEO of Huhtamäki Oyj: "Huhtamaki began packaging businesses in
Asia in 1984 with paper cup manufacturing. Now in 2012 with the Josco
acquisition the Group will have altogether 12 manufacturing units in Asia,
including seven flexible packaging plants across Asia and the newly started
films unit in Thailand. Huhtamaki will employ approximately 4,400 people in Asia
and approximately 15% of the Group's net sales in 2012 are expected to come from
Asia. With such excellent positions we are ready to participate in the growth of
the region."

The transaction is expected to be finalized in April 2012.

For further information, please contact:
Jukka Moisio, CEO, tel. 358 10 686 7801
Timo Salonen, CFO, tel. +358 10 686 7880

HUHTAMÄKI OYJ
Group Communications

Huhtamaki Group is a leading manufacturer of consumer and specialty packaging
with 2011 net sales totaling EUR 2 billion. Foodservice and consumer goods
markets are served by approximately 12,700 people in 59 manufacturing units and
several sales offices in 31 countries. The parent company, Huhtamäki Oyj, has
its head office in Espoo, Finland and its share is quoted on the NASDAQ OMX
Helsinki Ltd. Additional information is available at www.huhtamaki.com.


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