The packaging subsidiary of DuPont Canada Inc. (DUPA) said on Friday it is buying Prepac of France to expand into the fast-growth market of packaging food and beverages in pouches for developing countries, Reuters reports. Dupont's Enhance Packaging Technologies Inc. said the acquisition will extend its reach into Asia, Europe and Latin America where pouches have become popular because they keep food fresh for up to a year without refrigeration. No financial details were revealed for the transaction, but Enhance said the move should enable it to increase its business to $500 million in revenues within five years. The company claimed that the worldwide market for pouch packaging is growing at a double-digit rate and is currently a $2 billion market. ($1=$1.53 Canadian) Source: Reuters
