Hellaby acquires Elldex Packaging

Elldex is a specialist manufacturer and importer of flexible packaging products for a wide variety of customers.

David Houldsworth, managing director of Hellaby Holdings, stated that the purchase price is expected to be between $9.5 million and $10.0 million (depending on settlement provision etc) and that the company is on track to achieve an EBIT of more than $3.2 million for the year to 31 March 2005.

Houldsworth commented that Elldex has experienced excellent growth in recent years and is expected to continue this trend, particularly in Australia where a branch has been operating for over a year.

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