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Alcan Packaging, part of Rio Tinto Alcan, announced that its global beauty division has signed a share purchase agreement to acquire the Tubapak cosmetic tubes manufacturing facility in Russia. According to Alcan, the acquisition will allow it to enter the growing Central and Eastern European personal care markets.
The facility covers 7,000 square meters of production and warehousing space in the Moscow area and manufactures plastic tubes for the Russian cosmetic and personal care market. The acquisition is subject to clearance by the relevant authorities in Russia.