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Plastics packaging processor CCL investing USD 30 mln in developing markets

August 25/2011

(PlasticsToday) -- Far afield from its North American headquarters, plastics packaging processor / converter CCL Industries Inc., best known in this industry for its label conversion capabilities and plastic tube extrusion, plans to invest USD 30 million this year and next to expand its CCL Label operations in emerging markets. The company will build three new greenfield plants and also invest in additional capacity at some of its existing facilities. More than 80% of CCL's earnings stem from its labels business. The investment cited is in Canadian dollars but at present these convert almost one-to-one with U.S. dollars.

New will be a facility in Bangkok, Thailand, joining one already there, with the new facility designed to provide increased capacity and new technologies to support customers in the home / personal care (HPC) and beverage industries in Southeast Asia. CCL expects its Asian operations to approach 10% of global label revenues in 2012.

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