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Sealed Air buying bagging system maker APS for USD510 million

May 21/2019

MOSCOW (MRC) -- Bubble wrap maker Sealed Air Corp. is acquiring Automated Packaging Systems Inc. (APS), an Ohio-based manufacturer of automated bagging systems, for USD510 million, as per Canplastics.

The acquisition will benefit the companies through cross-selling opportunities and supply chain efficiencies, Sealed Air said in a statement. And APS will bring complementary capabilities and a history of innovation to Sealed Air."

Founded in 1962 with headquarters in Streetsboro, Ohio, APS employs more than 1,200 people, serves customers in over 60 countries, and operates seven manufacturing sites in the U.S. and U.K. In 2018, APS generated USD290 million in sales. The company is known for inventing Autobag bagging machines and pre-opened bags on a roll, and also offers three recycled film solutions under the EarthAware brand.

The acquisition is expected to close early in the third quarter of 2019.

Headquartered in Charlotte, N.C., Sealed Air makes the Cryovac food packaging and Bubble Wrap protective packaging brands. The company reported USD4.7 billion in sales in 2018 and has approximately 15,500 employees.

As MRC informed earlier, Sealed Air Corporation is investing in capacity at its Simpsonville, S.C. facility to produce plant-based food packaging.


mrcplast.com
Author:Anna Larionova
Tags:PE, Sealed Air.
Category:General News
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