NEWS IN BRIEF...


ReCover, the new recycling business segment of packaging firm Coveris, is opening an industrial film recycling plant with de-inking capabilities in Lincolnshire in the UK. With the capacity to produce 5,000 tonnes/ year of rPE, the facility uses printed waste feedstock from within Coveris, production waste from its customers, and other suitable post-industrial waste films. www.coveris.com


Indian packaging major Cosmo First posted sales of INR658 crore (around US$80m) in the first quarter of the year. This was a dip of around 25% compared to the same period last year, which the company said was due to “inventory loss arising from the sharp drop in prices of raw material towards the quarter end”. www.cosmofirst.com


Borealis has signed an agreement to buy Rialti, an Italian producer of mechan- ically recycled polypropyl- ene (PP) compounds for extrusion, for applications such as construction. www.borealisgroup.com


Wendel sells Constantia Flexibles to One Rock


Flexpack giant Constantia Flexibles has changed hands – with owner Wendel selling it to US-based One Rock Capital Partners. It will be sold for a price


that yields net proceeds of just over €1 billion (US$1.1bn) – reflecting a multiple of almost twice Wendel’s total investment in Constantia since 2015. Wendel has owned Con- stantia since 2015, with an approximate 60% stake in the company. The closing of the


transaction should take place during the second half of 2023, subject to contractual conditions and clearance by regulatory authorities. “The history of Constantia


flexible packaging for more than 4,000 pharmaceutical, food and consumer goods customers, and employs more than 7,000 people. Pim Vervaat, CEO of


Constantia Flexibles, added: “We are grateful for Wen- del’s supportive partnership over the years, which has enabled our growth.” Constantia says it


Vervaat: “Wendel’s support over the years has enabled our growth”


in our portfolio highlights the validity of our long-term investor model, which has enabled us to support the company in its develop- ment,” said David Darmon, deputy CEO of Wendel. Constantia produces


delivered “strong results” in the first half of 2023 – but, as a private company – did not provide specific figures. “Constantia has grown


through acquisition and innovation to be a leader serving its food and pharma customers,” said Telmo Valido, a partner at One Rock. � www.cflex.com


CCL buys pharma labels firm


Canada-based CCL Indus- tries, a label and packaging producer, has acquired Faubel – a Germany special- ist in labels for pharmaceuti- cal clinical trials. Faubel has a manufactur- ing facility in Melsungen, Germany, and sales offices


in the US and China. It had sales of C$66 million with nearly $31m in adjusted EBITDA last year. The business will now


trade as CCL Faubel. “Clinical trials labelling has long been an important component of our North


American healthcare business,” said Geoffrey Martin, president and CEO of CCL. “This acquisition adds organisational and operational capacity in Europe to build a global presence in the space.” � www.cclind.com


Recycling polystyrene in German plant


Ineos Styrolution has teamed up with sorting company Tomra and recycling firm EGN in a German facility that recycles polystyrene (PS) waste into material suitable for food packaging. EGN will build a greenfield mechan-


ical recycling facility that can process 40,000 tonnes/year of post-consumer


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PS in Krefeld, which will include sorting and washing. Ineos Styrolution will be responsible for the ‘super-cleaning’ purification process to comply with European Food Safety Authority requirements for food contact applica- tions. Tomra provides sorting technol- ogy and feedstock. Start-up is expect-


FILM & SHEET EXTRUSION | September 2023


ed in mid-2025. “I expect the dairy industry to especially benefit from this new offering by allowing it to mechanically recycle from yoghurt pot to yoghurt pot,” said Pierre Vincent, managing director of EGN. � www.ineos-styrolution.com


www.filmandsheet.com


IMAGE: CONSTANTIA FLEXIBLES


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