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SK Capital closed acquisition of Ipackchem

April 13/2021

MOSCOW (MRC) -- SK Capital Partners, LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, has completed its previously announced acquisition of Ipackchem Group SAS, a leader in sustainability-oriented barrier packaging, said the company.

Ipackchem represents SKs second investment in the packaging sector. Stephen DIncelli, Managing Director at SK Capital, stated, "The transaction is a testament to SKs ability to leverage our global platform to identify leading materials technologies businesses with immense commercial applications. We believe IPACKCHEM is a highly differentiated and sustainability-advantaged business with significant growth potential. Weve been tremendously impressed by Jean-Philippe and the entire IPACKCHEM management team and we are excited to partner with them to execute our shared strategic objectives."

Jean-Philippe Morvan, CEO of Ipackchem, noted, "We are delighted to partner with SK Capital as we embark on our next phase of growth. We believe their specialty chemicals expertise, functional and operating resources and extensive M&A capabilities will be instrumental in building on our existing strong market positions. Our common ambition is to accelerate organic and acquisitive growth and develop IPACKCHEM into the leading global barrier packaging player for Crop Protection and select Specialty Chemical markets."

Ipackchem Board of Directors includes several highly experienced executives, including Rob Tiede, the former CEO of Sonoco Products, Dave Mezzanotte, SK Capital Senior Director and former Chairman and CEO of Coveris, and George Gregory, SK Capital Senior Director and former CEO of Kraton Polymers.

Rob Tiede, former CEO of Sonoco Products, commented, IPACKCHEM is at the forefront of addressing many of todays macroeconomic and socioeconomic issues. The Companys highly specialized packaging products are of extremely high quality, enabling the safe handling and shipping of highly regulated Crop Protection chemicals that allow farmers to feed the worlds growing population, and are 100% recyclable, helping to address environmental issues."

Earlier this year, Ipackchem expanded with the acquisition of Chinese blow moulding company JRB Packaging.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 241,030 tonnes in January 2021 versus 217,890 tonnes a year earlier. Only shipments of low density polyethylene (LDPE) and high density polyethylene (HDPE) increased. At the same time, PP shipments to the Russian market reached 141,870 tonnes in January 2021 versus 123,520 tonnes a year earlier. Supply of homopolymer PP and PP block copolymers increased.

Founded in 1987 by Jean-Philippe Morvan as a division of Air Products Group, Ipackchem  is a  supplier of specialized barrier packaging solutions. Ipackchem leading market positions in the Crop Protection and Specialty Chemical markets are further underscored by its commitment to providing 100% recyclable plastic barrier packaging. IPACKCHEM is headquartered in Paris, with global operations spanning seven countries and four continents.
Author:Anna Larionova
Tags:PP, PE, ethylene, propylene, packaging, SK Corporation.
Category:General News
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