Business

Nampak has decided to hold on to its European packaging businesses after completing a strategic review.

The South African group had said in February that it was considering selling the division, which has 16 plants in the UK across the medical packaging, cartons and plastics sectors, as well as others on mainland Europe.

But chief executive John Bortolan said yesterday (24 May) that Nampak would retain the businesses and would “implement certain restructuring” and other measures to improve performance.

Bortolan, revealing the group’s performance for the first six months of the financial year, said European operations maintained last year’s improved results.

Overall group revenue increased by 11% and trading income was up 15%.