US-based packaging provider Aptar has shared plans to realign two of its business reporting segments to streamline its operations.
From 1 January 2023, the company will rebrand the two segments as Aptar Closures and Aptar Beauty, while its Pharma segment will remain unchanged.
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Aptar said the new segment structure will also increase their efficiencies and improve the customer experience across all its closure applications.
The company will use its closure platform to broaden the markets to which it offers these technologies.
Integrating all its closure activities will allow Aptar to focus on its closures’ design, marketing and manufacturing to better serve its customers.
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It is also intended to streamline the company’s operations and make better use of its capabilities.
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By GlobalDataAptar Beauty will focus on developing and providing complex spray and dispensing solutions for the fragrance, cosmetics, skincare and personal care markets.
The segment will also supply spray or pump dispensing technologies to the home care, food and beverage industries.
Aptar president and CEO Stephan Tanda said: “We are taking a strategic step that will strengthen our competitive position by simplifying and focusing our organisation.
“This change to our structure better aligns with our customers’ needs and allows us to leverage our expertise by technology with the goal of delivering the optimal combination of growth and profitability.”
Following the realignment, Aptar will continue to have three reporting segments, namely Aptar Pharma, Aptar Beauty and Aptar Closures.
The company will announce the recast historical financials of its new segments before publishing its results for the first quarter of fiscal 2023 (FY23).
Last month, Aptar’s subsidiary Aptar Food + Beverage partnered with Mexican edible oil brand Nutrioli to develop a dispensing solution.
Nutrioli will use Aptar’s Tapered 33-100 with the SimpliSqueeze flow control valve for some of its product offerings.
