Unisource Global Solutions (UGS) has completed the assets acquisition of Pakit Sweden, for an undisclosed sum.
As part of the acquisition, UGS will buy equipment from Pakit, which will replace the use of plastic trays, bottles, containers, carriers and other conventional petroleum-based packaging with equipment that uses cellulose fibres to manufacture moulded fibre packaging.
According to UGS, a division of Unisource Worldwide, the equipment reduces the use of water and emissions, and uses much less energy when compared to the existing packaging processes.
The equipment bought by UGS is set to expand the company's production resources to propel the next generation of packaging solutions to address the industry's rising interest in sustainable packaging globally.
Unisource Worldwide CEO Al Dragone said the acquisition builds upon the company's objective to be a world leader in providing technology, research, manufacturing and ongoing innovation to the packaging industry.
"It also improves Unisource's capability to be more responsive to our customer needs in the sustainable packaging area," Dragone said.
UGS focuses on rapidly renewable materials and provides new and technologically advanced packaging design / engineering solutions for its customers.
Recently, the company bagged the 2012 Luxe Pack in Green award and the CBN Weekly Innovation 50 award in recognition of its sustainable packaging solution and innovative business model.
Pakit is a Canadian developer of moulded fibre solutions for the packaging industry.