June's top stories: Cortec's corrosion protection boxes, DS Smith to buy 80% of Interstate Resources
Cortec to introduce corrosion protection boxes, DS Smith sign deal to acquire 80% of Interstate Resources for $920m. Packaging-gateway wraps up key headlines from June, 2017.
Minnesota-based Cortec was set to manufacture custom-made CorrTainer boxes that provide corrosion protection.
The boxes feature vapour phase corrosion inhibitors (VpCIs) inserted directly into the cardboard walls to ensure automatic corrosion protection for metal parts stored inside.
Having installed a new box-making machine, the company noted that it is now able to supply corrosion protection boxes to meet demand.
UK-listed DS Smith entered a conditional agreement to acquire 80% of US corrugated packaging business Interstate Resources for $920m.
With the deal, signed with Merpas, DS Smith will also assume or procure repayment of 100% of the Interstate Resources Group's financial debt, which is expected to amount to $226m.
As part of the agreement, DS Smith will buy the total issued share capital of Indevco Management Resources, (IMRI), the holding company for Interstate Resources. IMRI and its subsidiaries together are known as the IRI Group.
RPC Promens Consumer Kolding secured a contract to supply custom-designed PET bottles for Scandic Food’s range of dressings and sauces.
The injection stretch blow-moulded bottles are available in 250ml, 350ml and 400ml sizes.
A new 520ml bottle will soon be introduced in the range for export markets.
TricorBraun signed a definitive agreement to acquire a Canadian firm Salbro Bottle, as part of its efforts to strengthen its presence in the country.
Financial terms of the acquisition were not divulged by the company.
Established in 1990, Salbro Bottle is a 27-year-old packaging solution company based in Woodbridge, Ontario.
United Caps was set to acquire Dewit Plastics’ caps, closures and handles business in a bid to expand its range of offerings.
The business includes screw, tamper-evident (TE) and child-resistant (CRC) closures and handles for large containers.
Dewit Plastics will continue to operate its remaining injection moulding and thermoforming businesses.
US-based diversified global packaging company Sonoco signed a definitive agreement to acquire Clear Lam Packaging, a family-held business that develops flexible and forming plastic packaging films, for nearly $170m.
According to Sonoco executive vice-president and chief operating officer Rob Tiede, this acquisition will provide a substantial technology advantage to the company and facilitate synergy with its existing flexible and thermoforming clients.
Mimaki is set to launch multiple innovative digital print-and-cut solutions for short-run and customised labels and packaging.
The company has decided to introduce the solutions at Labelexpo Europe 2017, which will be held next September in Brussels, Belgium.
Canada-based Nova Chemicals developed a new recyclable, oxygen-barrier film structure design for food companies.
The new film can be used to pack food products such as meat, cheese, nuts, and many snack foods, which conventionally require rigid or non-recyclable mixed-material packaging.
Nova Chemicals food packaging market manager Mike Cappelli said: “This is a win for customers, the industry and the environment. It speaks to the consumer desire for lightweight, economical, and sustainable packaging.”
The Government of New Zealand approved new regulations to standardise packaging for tobacco products.
Under the regulations, all cigarettes and tobacco products will be available in a brown / green-coloured packaging with enlarged health warnings that cover at least 75% of the front.
Tobacco manufacturers are allowed to print their brand name and variant on tobacco packaging, but it should follow the standardised look, size, font and colour.
The US Food and Drug Administration (FDA) approved the use of Envision Plastics’ EcoPrime resin in high-density polyethylene (HDPE) packaging for fatty foods and spirits.
The FDA issued a letter of no objection stating that EcoPrime can be used at levels up to 100% in HDPE packaging under the agency’s conditions of use.
The favourable review made the product the only post-consumer recycled HDPE resin that can be used to pack all food types up to retort temperature conditions.