Event dates: May 04 – May 10
Location: Düsseldorf, Germany
KubeTech Custom Molding, a leading North American manufacturer of rigid packaging solutions and an industry leader in the operation of a wide variety of injection molding and assembly processes, will be integrated into Coveris to bolster the company’s rigid packaging offering to customers in North America. KubeTech is a key supplier to several consumer packaged goods companies, with primary expertise in the personal care and household product markets.
KubeTech operates facilities in Anderson, SC; Excelsior, MO and Newark, DE. During the integration, these facilities will become Coveris’ Rigid Packaging North America business unit. KubeTech Chief Executive Officer Steve Wirrig will manage this division as President, Rigid Packaging North America, reporting to Coveris Chief Executive Officer Gary Masse.
Both KubeTech and Coveris are affiliated portfolio companies of private equity firm Sun Capital Partners, Inc.“The KubeTech team is a very welcome addition to our Coveris family,” said Masse. “This action provides a significant expansion of our rigid packaging capability in North America and will help us leverage this capability in the context of the larger Coveris organization.” Separately, the Company elected to increase its North American credit facility by $25 million.
Coveris is the sixth-largest plastic packaging company in the world. Formed by the combination of Exopack, Britton Group, Kobusch, PACCOR and Paragon Print & Packaging, the company is an established leader in the development, manufacture, and sourcing of flexible and rigid plastic and paper packaging, as well as coatings solutions for various consumer and industrial end-use markets. With aggregate revenues of more than US$2.8B, the company manages 65 plants across North America, Europe, the Middle East, and China. Coveris is an affiliated portfolio company of Sun Capital Partners, Inc.