D&W Fine Pack sees growth potential for recent thermoforming purchase
Published: May 17th, 2012
D&W Fine Pack CEO Mark Staton told PlasticsToday growth potential is "promising" regarding the company's recent purchase of the thermoforming division of Clear Lam Packaging.
With annual sales of approximately $80 million, the Clear Lam thermoforming division is a supplier of food packaging containers made from PET to North American food processors and retailers. The sale includes facilities located in Elk Grove Village, IL; Vernon, CA; and one international facility in Nanjing, China.
"It fits well with our existing technology base and widens our presence in the grocery/packer/processor market," Staton said. "Also the operation in China gives us a valuable base in a fast developing market in its own right. Allied with that, it gives us an opportunity to use it both for manufacturing and sourcing in Asia." Regarding any future acquisitions, Staton said D&W will continue to appraise any additional vehicle that fits with its strategic vision.
D&W recently closed on the purchase of the assets of JetPlastica, a U.S. manufacturer of straws and plastic cutlery. Serving the market for more than 40 years, it operates two manufacturing facilities in Hatfield, PA and Fowler, CA. D&W Fine Pack will continue operations in both plant locations.
James Sanfilippo, president and CEO of Clear Lam Packaging, said D&W's growing product portfolio and manufacturing capabilities provided a strong complement to Clear Lam thermoforming's business. "By combining Clear Lam's thermoforming division with D&W Fine Pack's portfolio of businesses, we could create additional scale to help improve economies and also offer a much broader product line to its customers," he said. "We expect that the new combined thermoforming business will capitalize on expected growth in this sector in the years ahead." He said the sale of the company's thermoforming division allows Clear Lam to focus capital and R&D on its other operating divisions, which include flexible films, forming films, and its new CL polymers division.
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