June 18, 2019 | Plymouth, MI
Plastipak Italia Preforme s.r.l., a subsidiary of Plastipak Packaging, and Garbo S.r.l. have entered into an exclusive relationship in Italy to develop and bring to market industrial scale PET chemical recycling for use in preform and bottle applications. The agreement includes plans to expand the exclusive collaboration globally. This relationship represents the next step for Plastipak in continuing to offer our customers innovative and sustainable packaging solutions. Garbo’s proprietary, leading-edge technologies for chemical recycling will compliment Plastipak’s already expansive and industry leading recycling and sustainability capabilities. Further details will be forthcoming.
Plastipak is a global leader in the rigid plastic packaging and recycling industries with more than 50 years in business. Garbo is an industrial company based in Italy with over 20 years of experience in the purification of high value-added materials, including BHET from PET chemical recycling. Additional information about Plastipak can be found at its website www.plastipak.com. Additional information about Garbo can be found at its website www.garbosrl.net.
The selection of Plastipak as the winning bidder brings to conclusion a six month competitive process to sell the APPE Packaging Division in connection with La Seda’s pending insolvency proceedings. The transaction is subject to the negotiation of binding purchase agreements, regulatory approvals and certain other closing conditions, and is anticipated to close late in the first quarter of 2015.
“We are very pleased to be selected to be the final choice to acquire the APPE Packaging Division” stated Plastipak’s Chief Commercial Officer (CCO), Frank Pollock. “We have evaluated the organizational strengths of APPE’s business and have completed a comprehensive analysis of APPE’s sites, machinery, and intellectual property, and as a result, we are confident that this transaction will enable us to better serve our existing and future customers.” He added that APPE’s talent and technology will allow Plastipak to bring to its valued customers a complete portfolio of solutions to meet their current requirements and tomorrow’s challenges.
William C. Young, President and CEO of Plastipak, stated that “We are continuing to improve our organizational capabilities to earn the confidence and loyalty of our customers in all the categories we serve. This includes investments in packaging that address changing consumer demands and lifestyles. We are excited and look forward to the future with the acquisition of the APPE Packaging Division.”
Plastipak Packaging, Inc., a wholly-owned subsidiary of Plastipak Holdings, Inc., is a world leader in the design and manufacture of high-quality, rigid plastic containers for the food, beverage, and consumer products industries. Plastipak operates more than 27 sites in the United States, South America and Europe, with a total of over 4,000 employees. Its customers include some of the world’s most respected and recognized consumer brands. Plastipak is also a leading innovator in the packaging industry, holding more than 420 United States patents for its state-of-the-art package designs and manufacturing processes. In addition, Plastipak licenses various packaging technologies around the world. Plastipak was founded in 1967 and is headquartered in Plymouth, Michigan. Additional information about Plastipak can be found at its website www.plastipak.com.