Third Quarter - SPE Thermoforming Division
Third Quarter - SPE Thermoforming Division
Third Quarter - SPE Thermoforming Division
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<strong>Thermoforming</strong> in the news<br />
Plastics Packaging:<br />
Sonoco requires<br />
APT, leading CPET<br />
tray thermoformer<br />
By Matt Defosse, PlasticsToday.com<br />
Published: June 30th, 2010<br />
Associated Packaging Technologies<br />
Inc., which claims to be the world’s<br />
leading processor of crystallized<br />
polyethylene terephthalate (CPET)<br />
trays, has been scooped up by<br />
Sonoco, one of the world’s largest<br />
packaging processors. Sonoco paid<br />
about $120 million all-cash for<br />
APT, a price that includes the cost<br />
of paying off various obligations of<br />
APT.<br />
Why APT In a statement,<br />
Harris DeLoach Jr., president<br />
and CEO at Sonoco, explained,<br />
“With this acquisition, Sonoco<br />
has significantly expanded its<br />
existing thermoforming plastic<br />
container capabilities into the<br />
growing global frozen, chilled and<br />
ready-to-eat food markets. While<br />
APT is today the leading global<br />
supplier of CPET containers,<br />
we believe its proprietary<br />
material formulations and rotary<br />
thermoforming technology provide<br />
a strong platform for significant<br />
product development and growth.<br />
In addition, this acquisition will<br />
help accelerate Sonoco’s current<br />
development of multilayer barrier<br />
polypropylene food containers.”<br />
Sonoco expects the acquisition<br />
to be modestly accretive this<br />
year and is expected to generate<br />
annualized sales of approximately<br />
$150 million. APT was previously<br />
majority owned by investment funds<br />
controlled by Castle Harlan Inc.<br />
APT runs thermoforming<br />
facilities in Ontario, Canada; at<br />
two sites (Chillicothe, MO and<br />
Waynesville, NC) in the U.S.;<br />
and at Carrickmacross, Ireland,<br />
and employs more than 400<br />
workers. CPET trays are dualovenable<br />
(conventional and<br />
microwave) and see use primarily<br />
in packaging of ready-to-eat frozen<br />
meals. APT’s capacity is enough<br />
to process some 3 billion CPET<br />
containers annually; it standardizes<br />
on extrusion machinery from Davis-<br />
Standard and thermoformers<br />
from Lyle.<br />
Last year, APT announced it<br />
was adding polypropylene and<br />
multi-layer film extrusion and<br />
thermoforming capacity to its<br />
Cambridge, ON facility, raising<br />
capacity there by about 8 million<br />
lbs./year. It also was the first<br />
processor in the U.S. to thermoform<br />
frozen meal trays incorporating postconsumer<br />
recycled plastic. x<br />
<strong>Thermoforming</strong> <strong>Division</strong><br />
Receives<br />
Gold Pinnacle Award<br />
The Pinnacle Award recognizes achievements by <strong>SPE</strong> Sections and<br />
<strong>Division</strong>s that successfully create and deliver member value in four<br />
categories: Organization, Technical Programming, Membership, and<br />
Communication. Two levels of the award are available – Silver and Gold –<br />
and the <strong>Thermoforming</strong> <strong>Division</strong> received a Gold Pinnacle Award this year.<br />
Pictured are Roger Kipp, Councilor (left) receiving the award from Paul<br />
Anderson, 2009-2010 <strong>SPE</strong> President, at the Leadership Awards Luncheon<br />
at ANTEC in Orlando, Florida this past May.<br />
4 <strong>Thermoforming</strong> QUArTerLY