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Constantia Flexibles

Constantia Flexibles expands its international footprint to serve its global clients

60.8%(1)
capital held by Wendel

Constantia Flexibles is a global leader in flexible packaging. The group produces flexible packaging solutions for the consumer and pharmaceutical industries.

(1) As of December 31, 2020.
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Key figures
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€1,505.3 m
2020 sales
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€565 m
amount invested by Wendel since 2015 (2)
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51 %
of packaging sold is recyclable as of 12.31.2020
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22 %
of women (total headcount)
(2) Amount of equity invested by Wendel as of December 31, 2020.

Why did we invest in Constantia Flexibles?

Founded by Herbert Turnauer in the 1960s, the Vienna-based Constantia Flexibles Group produces flexible packaging solutions for the consumer and pharmaceutical industries. Constantia Flexibles has successfully developed its activities outside Europe and, over the last five years, has become a global leader in flexible packaging. The Group now has approximately 8,300 employees in 16 countries.

The flexible packaging market for fast moving consumer goods, in which Constantia Flexibles operates, offers a combination of stability and growth. The business of Constantia Flexibles is largely independent of economic cycles because the Group caters to the daily needs of end-consumers. In addition, there are long-term megatrends supporting the growth of the flexible packaging market, such as urbanization and the increased consumption of single portions, tied in with the decline in the size of households and the development of the middle classes, especially in emerging markets. For several years, this market’s growth in GDP terms has outpaced economic growth in developed and emerging countries.

Constantia Flexibles

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Wendel supports us by regular interactions with the senior management team and with giving us access to the overall Wendel network. Good challenges and support are received with respect to the efficiency of our operations.

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Pim Vervaat
CEO of Constantia Flexibles

The flexible packaging market is changing rapidly to meet the challenges of sustainable development. Constantia Flexibles, one of the leading suppliers of aluminum and film solutions, has a number of competitive advantages and technological innovation that give it solid growth prospects.

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Josselin de Roquemaurel
Chairman of Constantia Flexibles’ Board of Directors

What is the development potential?

A new strategy called Vision 2025 is currently under preparation by Pim Vervaat, Constantia’s new CEO along with its new management team. This strategic roadmap should refocus strategic priorities primarily towards boosting growth and profitability. It should also strengthen the sustainable technology segment and the new Ecolutions suite of sustainable products, including the Ecolam technology, whose development has been slowed down by the pandemic including restrictions to conducting trials in this environment.

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What are Constantia Flexibles’ ESG commitments?

Constantia Flexibles works with the following goal in mind: “We envision a world in which packaging provides people with the highest benefit at the lowest impact on the environment.”

Integrating Corporate Social Responsibility (CSR) commitments in respect for the environment into its business activities, Constantia Flexibles pays particular attention to continual improvements in the consumption of raw materials, which are essentially aluminum, plastics, paper, and chemicals like inks and solvents. Already in 2018, Constantia Flexibles pledged that 100% of its packaging solutions would be recyclable by 2025 and set an absolute Greenhouse Gas (GHG) emission reduction target. Constantia Flexibles closely monitors the possible impact of its products on the environment, in particular by performing life cycle assessments.

The opening of a newly built production facility in India in 2019, 100% dedicated to produce the recyclable product-family “EcoLam”, which is based on monopolymer laminates from Polyethylene (PE), bookmarks in particular one of the milestones of Constantia Flexibles’ way of business to grow by following the vision and mission and in particular its commitment to developing all packaging to be recyclable by 2025.

Constantia Flexibles prioritizes the health and safety of everybody who works with and for Constantia Flexibles and takes proactive measures to achieve its vision of “Zero Loss – No Harm” which is underpinned by the duty to create and maintain a safe and sustainable work environment.

Constantia Flexibles’ ESG approach

Considering its activity, Constantia Flexibles is really involved in respecting ESG issues.

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Sustainable products

In 2019, opening of Ecoflex Ahmedabad, the first plant in the world designed to produce recyclable flexible packaging only (EcoLam proucts).

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Climate change

A 24% reduction in Greenhouse Gas (GHG) emissions by 2030 compared to 2015, and a 49% reduction by 2050 (scopes 1,2 and 3).

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Health & Safety

“Zero loss – No harm” ambition notably illustrated by a 66% reduction of lost time injury frequency rate since 2015 (date of entry into Wendel’s portfolio).

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Partnerships

Active participation in sectoral projects and initiatives related to the supply chain (eg Plastics New Economy, CEFLEX, Sustainable Packaging Coalition, Save Food initiative of the UN or the Stope Waste Save Food Initiative).

Wendel’s role in corporate governance

Board of Directors
Constance d’Avout
Jérôme Richard
Josselin de Roquemaurel

Nomination and Compensation Committee
Constance d’Avout
Josselin de Roquemaurel

Audit Committee
Jérôme Richard
Josselin de Roquemaurel