Plastipak Packaging, Inc., a leading global manufacturer of rigid plastic packaging as well as virgin and recycled plastic resin, is pleased to announce that it has completed the acquisition of the business assets of Evolve Polymers Ltd. Evolve is one of Europe’s leading plastics recyclers, based in Hemswell Cliff, United Kingdom.
Plastipak’s global recycling operations currently recycle billions of bottles per year, and the site being acquired has the capacity to process an additional 6-9 billion PET bottles into food-grade and other high quality material. The business will begin operating immediately under Plastipak’s ownership. Contracts with Evolve’s existing key business partners have been secured for continued effect.
“Evolve’s prior owners invested significant resources to build the Hemswell Cliff site starting in 2006, and the business’s performance benefited from continuous improvements”, said Martin Hargreaves, Managing Director, Plastipak Europe. “We currently operate plastic recycling operations in the U.S. through our Clean Tech subsidiary, and in France and Luxembourg for our European customers. This acquisition complements our existing recycling businesses, and amplifies our ability to bring our world-class technologies and know-how to better serve our UK and European-based customers.”
Frank Pollock, President of Plastipak’s International Operations and Chief Commercial Officer, stated that “We are excited to begin collaborating further with the management and associates formerly employed by Evolve to provide more eco-friendly plastic packaging to consumers. We have been a pioneer in the plastic recycling industry, and recycling is one of our core organizational capabilities. PET is already among the most recycled materials in the global regions in which we operate, and increasing the use of rPET in Plastipak’s products makes plastic an even better choice for consumers, the community, and the environment.”
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 44 sites in the United States, South America and Europe, with a total of over 6,000 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 400 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
Statements in this press release concerning Plastipak’s intentions, expectations or predictions about future results or events are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current expectations or beliefs, and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse. Forward-looking statements speak only as of the time made, and the Company assumes no obligation to publicly update any such statements.
Chief Legal Officer and Community Affairs Director
Tel: +1 734-354-7282
European Marketing Manager
Tel: +44 1978 317378