Pactiv completes deal and announces expansion
The undisclosed deal for International Tray Pads and Packaging, based in North Carolina, would offer product solutions that combine multiple materials, said Pactiv.
The acquired company supplies the US, Eastern and Western Europe, the Middle East, Canada, Latin America, the Caribbean, and Asia markets. Its absorbent products offer moisture control for fresh meats, fish, poultry and produce in tray pack, bags or modified atmosphere packaging (MAP).
Expanded product offering
“Our acquisition of International Tray Pads further expands our product offering and value proposition in the Supermarket and Processor segments of our business,” said Pactiv CEO and president, John McGrath.
“Offering product solutions that combine multiple materials continues to be an area of high focus for Pactiv as it provides our customers with new packaging options.”
Pactiv operates 55 manufacturing plants in seven countries with more than 12,000 employees.
Site expansion
Meanwhile, the firm announced plans to expand its Corsicana, Texas operation by building a 150,000 square foot addition to its existing facility.
The Texas Enterprise Fund (TEF) will invest $930,000 in Pactiv with local media reporting the project will cost $58m.
The plant will manufacture Expanded Polystyrene (EPS) cups and containers and will bring more than 200 jobs with operations commencing mid to late-2013.
“The market demand for EPS cups is strong and this will be a great addition to Pactiv’s existing, multi-material offering,” said McGrath.
“Our customers will benefit from the opportunity to get a broader assortment of products from us.”
Pactiv already operates an EPS cup facility in Bollingbrook, Illinois and the Corsicana operation will produce the same EPS products.
